RHavar
Legendary
 Offline
Activity: 2557
Merit: 1886
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March 24, 2019, 08:31:53 PM |
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After you reinvest with the dilution credits, it seems that there is a display bug that shows that you have more dilution fee credits than you actually have.
Confirming this happened to me too. (fixed by a refresh) |
Check out gamblingsitefinder.com for a decent list/rankings of crypto casinos. Note: I have no affiliation or interest in it, and don't even agree with all the rankings ... but it's the only uncorrupted review site I'm aware of. |
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leen93
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March 25, 2019, 02:05:12 AM |
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2 questions:
what's the point of on site VS off site
if you want to invest 3 BTC, why would you put 3 BTC in the on site VS 1 BTC in the on site and 2 BTC in the off site? you qre going to hqve the exact same earnings, with more risk, is there anything else different?
result of this: all the big/smart guys leverage max, if there is 1000 BTC in the on site, there is 2000 offsite and with the investment above you own .1%
if offsite didnt exist you would still own .1%. It complicates stuff but dont see any benefit. Except that the actual dilute fee becomes 6 instead of 2% (because everyone pretends to invest 3 times as much and pays 2% fee on 200% non-existing btc).
who is that 2 (or 6 however you see it) % fee going? distributed according to investors' onsite or total (on/off)site investment?
i like the site, but a lot of things are never mentioned clearly and that makes it kinda suspicious to me.
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StackGambler
Full Member
Offline
Activity: 434
Merit: 101
YouTuber, gambler, and scam-buster.
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March 25, 2019, 02:11:45 AM |
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2 questions:
what's the point of on site VS off site
if you want to invest 3 BTC, why would you put 3 BTC in the on site VS 1 BTC in the on site and 2 BTC in the off site? you qre going to hqve the exact same earnings, with more risk, is there anything else different?
result of this: all the big/smart guys leverage max, if there is 1000 BTC in the on site, there is 2000 offsite and with the investment above you own .1%
if offsite didnt exist you would still own .1%. It complicates stuff but dont see any benefit. Except that the actual dilute fee becomes 6 instead of 2% (because everyone pretends to invest 3 times as much and pays 2% fee on 200% non-existing btc).
who is that 2 (or 6 however you see it) % fee going? distributed according to investors' onsite or total (on/off)site investment?
i like the site, but a lot of things are never mentioned clearly and that makes it kinda suspicious to me.
The off-site system is designed to reduce risk exposure by keeping funds in the cold wallet, but it can be abused for leverage. For example, if you have a large off-site investment, then your gains/losses are magnified, similar to margin trading. This means that you can also be liquidated in case a big whale comes on and wins a significant percentage of the bankroll. If the whale first wins big and then loses it all, even if the bankroll comes out ahead, if you have used the off-site system to leverage your investment, you will lose your money. However, the house is winning, your gains are multiplied. devans would probably recommend not to abuse the off-site system to leverage your investment, but I'd say that having a 2x or 3x leverage is pretty smart, since megawhale events are quite rare. It depends on your risk profile. |
I like gambling. Probably currently trying to figure out how to pay next month's rent.
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leen93
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March 25, 2019, 02:31:47 AM |
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to try it out I just paid .5 btc in dilute fees, total onsite and offsite bankroll (and my bankroll) increased by my investment amount excluding the fees (exactly till .001 btc correct), where did my fees go if they didn't go to the investors?
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RHavar
Legendary
Offline
Activity: 2557
Merit: 1886
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March 25, 2019, 03:19:11 AM |
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to try it out I just paid .5 btc in dilute fees, total onsite and offsite bankroll (and my bankroll) increased by my investment amount excluding the fees (exactly till .001 btc correct), where did my fees go if they didn't go to the investors?
Since you PM'd me this (although the correct person would've been "devans"), and posted it here -- I'll just answer it here in case it's useful to anyone else =) So let's define some symbols: A = onsite amount you are investing B = offsite amount you are investing C = dilution fee So your question is "Why did the bankroll go up by A+B and not A+B+C?" and the answer to that is simple: your account balance was only decreased by A (and *not* A+C). In other words, A is before fees, and not after fees. So the dilution fee did indeed go into the bankroll (some of which would've flowed back to you) |
Check out gamblingsitefinder.com for a decent list/rankings of crypto casinos. Note: I have no affiliation or interest in it, and don't even agree with all the rankings ... but it's the only uncorrupted review site I'm aware of. |
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devans (OP)
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March 25, 2019, 09:26:22 AM |
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After you reinvest with the dilution credits, it seems that there is a display bug that shows that you have more dilution fee credits than you actually have.
Thank you for letting me know. The issue is fixed now. |
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Timetwister
Legendary
Offline
Activity: 1199
Merit: 1047
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March 25, 2019, 11:06:20 AM |
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2 questions:
what's the point of on site VS off site
if you want to invest 3 BTC, why would you put 3 BTC in the on site VS 1 BTC in the on site and 2 BTC in the off site? you qre going to hqve the exact same earnings, with more risk, is there anything else different?
result of this: all the big/smart guys leverage max, if there is 1000 BTC in the on site, there is 2000 offsite and with the investment above you own .1%
if offsite didnt exist you would still own .1%. It complicates stuff but dont see any benefit. Except that the actual dilute fee becomes 6 instead of 2% (because everyone pretends to invest 3 times as much and pays 2% fee on 200% non-existing btc).
who is that 2 (or 6 however you see it) % fee going? distributed according to investors' onsite or total (on/off)site investment?
i like the site, but a lot of things are never mentioned clearly and that makes it kinda suspicious to me.
I don't like the onsite/offsite system much either, I'd prefer max possible winnings per round to be just Kelly*2. Anyway, if this system exists, I think it's sensible to use a lower leverage than 1:3, because that way, if a whale starts winning big, your bankroll expected growth may become negative. Kelly*2 would be 1:4/3 leverage if I remind correctly, way less than 1:3. That doesn't mean that it's the optimal leverage, as players are very rarely targetting the max profit and therefore casino earnings are way more stable than if players were going for the maximum prize all the time. Dilution fees go to investors, including yourself. They are distributed based on what percentage of the bankroll you own. |
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StackGambler
Full Member
Offline
Activity: 434
Merit: 101
YouTuber, gambler, and scam-buster.
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March 25, 2019, 02:39:25 PM |
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2 questions:
what's the point of on site VS off site
if you want to invest 3 BTC, why would you put 3 BTC in the on site VS 1 BTC in the on site and 2 BTC in the off site? you qre going to hqve the exact same earnings, with more risk, is there anything else different?
result of this: all the big/smart guys leverage max, if there is 1000 BTC in the on site, there is 2000 offsite and with the investment above you own .1%
if offsite didnt exist you would still own .1%. It complicates stuff but dont see any benefit. Except that the actual dilute fee becomes 6 instead of 2% (because everyone pretends to invest 3 times as much and pays 2% fee on 200% non-existing btc).
who is that 2 (or 6 however you see it) % fee going? distributed according to investors' onsite or total (on/off)site investment?
i like the site, but a lot of things are never mentioned clearly and that makes it kinda suspicious to me.
I don't like the onsite/offsite system much either, I'd prefer max possible winnings per round to be just Kelly*2. Anyway, if this system exists, I think it's sensible to use a lower leverage than 1:3, because that way, if a whale starts winning big, your bankroll expected growth may become negative. Kelly*2 would be 1:4/3 leverage if I remind correctly, way less than 1:3. That doesn't mean that it's the optimal leverage, as players are very rarely targetting the max profit and therefore casino earnings are way more stable than if players were going for the maximum prize all the time. Dilution fees go to investors, including yourself. They are distributed based on what percentage of the bankroll you own. The safest, and I think the most EV+ method of investing in the bustabit bankroll is by keeping nothing off-site so that your exposure is 1:1. Even is a whale event happens, he/she is pretty likely to get raped in the end, so you come out ahead. In practicality, however, the bustabit bankroll has been steadily increasing at an astonishing rate for several months, which means that a leveraged investment would have done very well. Regretfully, my 2 BTC investment was liquidated during the KLITZ/FREE-JBAY5 fiasco, but is was a calculated gamble and I lost. If I do invest again, it'll be 1:2 instead of 1:5, which is what I think I did at the time. Anyway, it's good that the option exists. People with a higher risk tolerance such as myself can choose to abuse the off-site system, and people with a safer risk profile can decide to ignore it. |
I like gambling. Probably currently trying to figure out how to pay next month's rent.
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StarofBTC
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March 25, 2019, 06:05:15 PM |
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I have just paid the reimbursements to all affected bankroll investors and the same amount of dilution fee credits. If you were online when I paid the reimbursements you may have to refresh the page before your correct account balance is shown.
This is just great news, I mean of course it is sad to see that you are losing money but it is just amazing to see you get all of this done so professionally and I can't believe how quick it was too. Thank you so much for being so stand up and amazing Devans, I hope you will make that money back with tons and live in a house full of cash you swim through one day. Not like you wouldn't now  think of all bitcoins you own that cashed out to fiat dollar and you cash it with 1 dollars each that would be like a mountain I am sure . You deserve every single penny you make because you are definitely best casino owner I know, and its amazing to see it on the same website I once called "best owner" to the last owner (Rhavar) and now I can call its you on the same website, its a privilege to be on this website, thank you for everything you have done for us and the casino. |
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kolloh
Legendary
Offline
Activity: 1736
Merit: 1023
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April 03, 2019, 06:54:39 PM |
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This guy won 153 btc in 26 bets?  |
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rdbase
Legendary
Offline
Activity: 2856
Merit: 1499
Join the world-leading crypto sportsbook NOW!
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April 03, 2019, 07:04:17 PM |
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This guy won 153 btc in 26 bets?
He must of got one of those bets a nyan round to reach this amount in only 26 bets. It is an insane amount of bitcoin to win on the site. |
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feryjhie
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April 04, 2019, 05:19:45 AM |
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This guy won 153 btc in 26 bets? i just visit bustabit and i want to see his profile but i got "No account with this user name exists" |
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RHavar
Legendary
Offline
Activity: 2557
Merit: 1886
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April 04, 2019, 06:28:42 AM |
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i just visit bustabit and i want to see his profile but i got "No account with this user name exists"
bustabit allows you to delete your account, which seems to be popular with people who win or lose a lot. So i presume after he withdrew his winnings he deleted his account. (Kind of annoying for the rest of us who'd like to look at the games though) |
Check out gamblingsitefinder.com for a decent list/rankings of crypto casinos. Note: I have no affiliation or interest in it, and don't even agree with all the rankings ... but it's the only uncorrupted review site I'm aware of. |
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StackGambler
Full Member
Offline
Activity: 434
Merit: 101
YouTuber, gambler, and scam-buster.
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April 04, 2019, 08:39:18 AM |
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This guy won 153 btc in 26 bets?
He must of got one of those bets a nyan round to reach this amount in only 26 bets. It is an insane amount of bitcoin to win on the site. I watched this user play. They were all extremely large bets. His first bet was 4 BTC, and subsequent bets were like, 10+ BTC. That win streak on the end, he was betting around 30 BTC at 2.15x three games in a row, and hit them all. Pretty crazy stuff. |
I like gambling. Probably currently trying to figure out how to pay next month's rent.
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StarofBTC
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April 04, 2019, 04:03:44 PM |
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Lets hope this wasn't another attack like the one that happened because it would be really sad to see bustabit keep getting attacked and attacked until the bankroll and investors money get emptied. However, if it is just a good win than that must have been an insane roll for him, 153 bitcoins in 26 games equals to about close to 6 bitcoins per win, I don't know what his wager was and what his odds he won etc etc because he deleted his account but I bet it wasn't just 6 btc bet on x2 so it must have been some sort of insane roll luck he had hitting big numbers after big numbers. Hopefully we could hear from him and he would tell us what happened and how it happened (doubt it though, if he wanted to share why would he go up and delete his account) I really hope I can be on the winning end of one of these one day . |
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hyunee
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April 04, 2019, 04:29:45 PM |
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This guy won 153 btc in 26 bets? i just visit bustabit and i want to see his profile but i got "No account with this user name exists" That's a huge win and just for 26 bets? Is that pure luck or is that something else? bustabit allows you to delete your account, which seems to be popular with people who win or lose a lot. So i presume after he withdrew his winnings he deleted his account. (Kind of annoying for the rest of us who'd like to look at the games though)
Can the OP explain this? Sounds like a little bit shady. I'm not giving an accusation bustabit because it has a good reputation in this forum but I think we need explanation regarding this matter. |
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RHavar
Legendary
Offline
Activity: 2557
Merit: 1886
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April 04, 2019, 04:42:10 PM |
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Lets hope this wasn't another attack like the one that happened because it would be really sad to see bustabit keep getting attacked and attacked until the bankroll and investors money get emptied.
I don't really get what you mean. Investors have been doing great (I know, I'm one). Looking at a chart, the recent events: March 21 investors lost 126 btc (which Daniel then fully comp'd back a few days later), March 27: Investors made 117 btc. April 3rd: Investors lost 84 btc. For any reasonable time frame, investors have been doing very well. But if a 153 btc loss is concerning, remember that it's only 2.4% of the (virtual) bankroll, it's actually a pretty tiny loss. It easily could one day be x10 that. So if that's troubling, then it means you should probably lower your investment (or offsite). Can the OP explain this? Sounds like a little bit shady. I'm not giving an accusation bustabit because it has a good reputation in this forum but I think we need explanation regarding this matter.
What makes it shady? There's a big "Delete account" option in the settings. I'm not a lawyer, but I think it's existence is a requirement for GDPR compliance, and it's not surprise someone who just made a big win wants to keep it on the down-low. |
Check out gamblingsitefinder.com for a decent list/rankings of crypto casinos. Note: I have no affiliation or interest in it, and don't even agree with all the rankings ... but it's the only uncorrupted review site I'm aware of. |
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JollyGood
Legendary
Offline
Activity: 2520
Merit: 1711
Top Crypto Casino
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April 04, 2019, 05:27:39 PM |
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https://bitroll.io/games/crashesSeeking some clarity please. Is this website using Crash software that is not owned by Bustabit team? Or is it using a licenced or unlicensed version of Crash code owned by Bustabit team?
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RHavar
Legendary
Offline
Activity: 2557
Merit: 1886
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April 04, 2019, 05:32:03 PM |
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https://bitroll.io/games/crashesSeeking some clarity please. Is this website using Crash software that is not owned by Bustabit team? Or is it using a licenced or unlicensed version of Crash code owned by Bustabit team? From a quick look, it looks like an independent implementation of the bustabit game -- so they'd have no need to buy a license (you only need a license if you're using the actual bustabit code). |
Check out gamblingsitefinder.com for a decent list/rankings of crypto casinos. Note: I have no affiliation or interest in it, and don't even agree with all the rankings ... but it's the only uncorrupted review site I'm aware of. |
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JollyGood
Legendary
Offline
Activity: 2520
Merit: 1711
Top Crypto Casino
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April 04, 2019, 06:45:13 PM |
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https://bitroll.io/games/crashesSeeking some clarity please. Is this website using Crash software that is not owned by Bustabit team? Or is it using a licenced or unlicensed version of Crash code owned by Bustabit team? From a quick look, it looks like an independent implementation of the bustabit game -- so they'd have no need to buy a license (you only need a license if you're using the actual bustabit code). Thanks for the clarification. Always wise to ask about these things when you see them. I thought it looked a little different but wanted to be sure. |
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