bustabit – The original crash game

[devans]

More than 500 BTC net have been divested since the change came into effect, though admittedly that's less than I had expected. Whether that's because investors are "playing chicken" with each other or their demanded rate of return is lower than I assumed is hard to say. In any case, I have no doubt that the bankroll will eventually reach a saner size as commission rate continues to increase to match Bitcoin's price.

Regarding alternatives: I've seen some interest-bearing accounts for Bitcoin, but none that offer more than 3% per year. IMO that's way too low to justify the risks, though, especially the significant counterparty risk.

[Jungian]

More than 500 BTC net have been divested since the change came into effect, though admittedly that's less than I had expected. Whether that's because investors are "playing chicken" with each other or their demanded rate of return is lower than I assumed is hard to say. In any case, I have no doubt that the bankroll will eventually reach a saner size as commission rate continues to increase to match Bitcoin's price.

Regarding alternatives: I've seen some interest-bearing accounts for Bitcoin, but none that offer more than 3% per year. IMO that's way too low to justify the risks, though, especially the significant counterparty risk.

Ledn.io is 6%

BlockFi is 6% on your first 2.5 BTC

Celsius is 4.2% I think

[Webetcoins]

There is nothing we can do from this point forward, there is a "penalty" situation in place that makes people not earn money at all and I am sure people will leave because of that, maybe they will come back when it is lower but I do not think that we will see it any higher anymore, who would want to put money into a place that they pay money to get in, but make no money while there? It is like an expensive wallet that takes money from you while getting in.

This is why I think people will slowly take their money out, even if at the pace of old days, but people will not put money in, that is the crucial part. You guys all talk about how people should leave but you do not talk enough about how people do not get in, that is the most important part of this. I do not think that we will see anything that will change much quickly, but slowly we are going to get there.

[tygeade]

What about opportunity costs? I don't get why people are still invested.

I'm not sure the opportunity costs are that high? I divested a fair chunk when the new commissions came in, but all that is just now sitting in my trezor making 0 returns. I literally don't even know what else to do with the bitcoin -- and if I did -- I can immediately divest from busta* for it.

For me at least, it just boils down to trying to guess the ROI (which is very hard if you try consider counterparty risk) and then apportioning my investment based on that (e.g. kelly my total investable networth).

So the way I figure it, it's still marginally profitable to stay in the bankroll, but if you have any suggestions of better uses of my bitcoin (while still being exposed to btc price), I'm all ears

I can't speak on your behalf because you may like it or may not like it. However for general population I can tell you that these days there are staking that people can profit from. This could be staking as simple as proof of stake coins that you buy, which is not bitcoin but still higher level coins, and it could also be defi staking and LP as well. Those provide a great deal of return, in fact I am making over 120 dollars per day on my 10k investment in some coin right now, and the coin itself increased over 4x during that period as well.

This doesn't mean that it will go like this forever, it could change very quickly, but at least I am making a profit. So in altcoins, there are less risky or high risk stuff that you could make a good return from and some people divest for that. But even with that idea, I still do not divest from here, my money here will always stay, even if it doesn't bring me any profit, I just like it here way too much.

[SquallLeonhart]

More than 500 BTC net have been divested since the change came into effect, though admittedly that's less than I had expected. Whether that's because investors are "playing chicken" with each other or their demanded rate of return is lower than I assumed is hard to say. In any case, I have no doubt that the bankroll will eventually reach a saner size as commission rate continues to increase to match Bitcoin's price.

Regarding alternatives: I've seen some interest-bearing accounts for Bitcoin, but none that offer more than 3% per year. IMO that's way too low to justify the risks, though, especially the significant counterparty risk.

I know this is bitcoin investment here, but alternative doesn't have to be bitcoin neither. Even ETH regular staking is around 6% right now, and like jungian said there are few that gives similar for bitcoin as well. And if you go towards BNB, there are places that give 100%+ in the defi world, so there are many alternatives. The point here is that this place is more trustworthy, not because it is profitable. Sure this place made people a lot of money but there has been places in the defi world where people turned 16k into 1.6 million dollars, and there were places where everyone got scammed.

Bustabit is not and never was the most profitable place, we never came in here for the money, we came in here because we knew that even though it is a tiny profit, at least it is guaranteed, and for the long term I made a good profit and that is why I am not leaving, because I know that I will profit one way or another, there are many other places that can 10x my profit if I get in at the right time and if I am lucky, but I won't take that risk.

[JollyGood]

How much did you invest in the Bustabit bankroll?

I know this is bitcoin investment here, but alternative doesn't have to be bitcoin neither. Even ETH regular staking is around 6% right now, and like jungian said there are few that gives similar for bitcoin as well. And if you go towards BNB, there are places that give 100%+ in the defi world, so there are many alternatives. The point here is that this place is more trustworthy, not because it is profitable. Sure this place made people a lot of money but there has been places in the defi world where people turned 16k into 1.6 million dollars, and there were places where everyone got scammed.

Bustabit is not and never was the most profitable place, we never came in here for the money, we came in here because we knew that even though it is a tiny profit, at least it is guaranteed, and for the long term I made a good profit and that is why I am not leaving, because I know that I will profit one way or another, there are many other places that can 10x my profit if I get in at the right time and if I am lucky, but I won't take that risk.

[janggernaut]

Bustabit is not and never was the most profitable place, we never came in here for the money, we came in here because we knew that even though it is a tiny profit, at least it is guaranteed, and for the long term I made a good profit and that is why I am not leaving, because I know that I will profit one way or another, there are many other places that can 10x my profit if I get in at the right time and if I am lucky, but I won't take that risk.

I disagree. No matter what place you invested your money, the chance of losing is always there too. There is no guarantee you will ended up profit even though you have invested in bustabit or other site. Which place you can make profit 10x from your money? I don't think there is a place like that.

[Taskford]

Bustabit is not and never was the most profitable place, we never came in here for the money, we came in here because we knew that even though it is a tiny profit, at least it is guaranteed, and for the long term I made a good profit and that is why I am not leaving, because I know that I will profit one way or another, there are many other places that can 10x my profit if I get in at the right time and if I am lucky, but I won't take that risk.

I disagree. No matter what place you invested your money, the chance of losing is always there too. There is no guarantee you will ended up profit even though you have invested in bustabit or other site. Which place you can make profit 10x from your money? I don't think there is a place like that.

No guarantee indeed especially on consistency of profits since we cannot always lucky since sometimes there are downside on certain times. And that's very wrong perception of peopl that they can always earn more from certain company.

In gambling maybe its hard to reach that x10 threshold and I sometimes didn't believe on people says that without giving a stats but if they do trades maybe they can do that but in game of chance well I doubt.

[malevolent]

I disagree. No matter what place you invested your money, the chance of losing is always there too. There is no guarantee you will ended up profit even though you have invested in bustabit or other site. Which place you can make profit 10x from your money? I don't think there is a place like that.

As far as cryptocurrency investments go, profit from investing on busta* sites was almost guaranteed, compared with other places (e.g. buying shitcoins when they're cheap, defi, etc.), where profits can exceed 1000% (against BTC, more against USD), but the risks are also extremely high.

[IvandeArgentina]

More than 500 BTC net have been divested since the change came into effect, though admittedly that's less than I had expected. Whether that's because investors are "playing chicken" with each other or their demanded rate of return is lower than I assumed is hard to say. In any case, I have no doubt that the bankroll will eventually reach a saner size as commission rate continues to increase to match Bitcoin's price.

Regarding alternatives: I've seen some interest-bearing accounts for Bitcoin, but none that offer more than 3% per year. IMO that's way too low to justify the risks, though, especially the significant counterparty risk.

Hi! Please could you send me a private message that I want to ask you a question?

[lienfaye]

As far as cryptocurrency investments go, profit from investing on busta* sites was almost guaranteed, compared with other places (e.g. buying shitcoins when they're cheap, defi, etc.), where profits can exceed 1000% (against BTC, more against USD), but the risks are also extremely high.

I have not tried to invest in any gambling site but based on the journey of some people I know, they really made profit though it takes time and with a little amount. So I agree, it is somehow less risky compared to investing in coins that has no concrete basis to say that it can succeed in the future but I guess this is only for new coins sprouting since they dont prove anything yet.

[xSkylarx]

As far as cryptocurrency investments go, profit from investing on busta* sites was almost guaranteed, compared with other places (e.g. buying shitcoins when they're cheap, defi, etc.), where profits can exceed 1000% (against BTC, more against USD), but the risks are also extremely high.

I have not tried to invest in any gambling site but based on the journey of some people I know, they really made profit though it takes time and with a little amount. So I agree, it is somehow less risky compared to investing in coins that has no concrete basis to say that it can succeed in the future but I guess this is only for new coins sprouting since they dont prove anything yet.

Every investment has its own risks so it is up to us how we diversify our streams of income. I already invested on some altcoins and looking forward to investing on this so while I wait for my alts to grow I have a passive income.

Is there a minimum amount to invest on these gambling websites? What are the platforms that are good to invest my money? What are the cons when you invested on it?
Answers will be highly appreciated.

[malevolent]

Is there a minimum amount to invest on these gambling websites? What are the platforms that are good to invest my money? What are the cons when you invested on it?
Answers will be highly appreciated.

0.01 BTC (10`000 bits) is the min. amount you can invest. The cons are a 2% dilution fee deducted from your investment upon transferring your money to the bankroll, and nowadays also very high commission rates on profits. I don't think it's worth it anymore, even more so for new investors (and that was the intended move). I don't know how it looks anymore with gambling sites other than bustabit/bustadice.

[RHavar]

Could someone please tell me what the gains were like in, say, the last 2 years or so? Checking https://dicesites.com/bustabit won't do the trick, because of the commission/fee structure/bankroll etc.

It should work, because I believe dicesites is showing the post-commissions investor profit.


But anyway, I wouldn't worry about it too much. With hindsight, there's probably a million good investments you could've made. Beating yourself up over missing one is probably not overly productive.

[janggernaut]

What are the platforms that are good to invest my money? What are the cons when you invested on it?
Answers will be highly appreciated.

I'm not sure to answer your question. But you should know doesn't matter which place you invest your money, there is always a risk on there, either you can lose your investment or your investment amount will dropped. If you are looking for a gambling site which accept other coin beside bitcoin, bustabit/bustadice isn't a place for that (go for other site)

[RealMalatesta]

~snip~

I think it is obvious that many people missed on bitcoin chance, you at least had a bit, sure you could had more if you had money and that is one of the hardest things people have to deal with, I made an investment a month ago, I knew that it would actually profit a lot and it did 4x and I was super pissed that I couldn't put more money into it, I had only 2k dollars to invest and now I have 8k but if I invested 20k that would have been 80k and I knew that it would go up so I just watched it go up and make me profit but I was still pissed that I couldn't profit even more.

However like RHavar said, these type of chances come up all the time, so there is nothing to worry about there, you may face another in a month or maybe in a year but you will have another chance to profit a lot, just be calm and we will be capable of finding another when the right time comes, just don't rush it.

[GamblingSiteFinder]

People don't appear to be divesting from the bankroll. 

[malevolent]

Just wait a bit longer. The commission rate keeps increasing and barring a 2018 style bubble pop will likely continue to increase. I think by early summer at the latest we can expect to see a significant decrease of bankroll size, once most users notice the growth of new profits starts decreasing to 0.

[DarkStar_]

People don't appear to be divesting from the bankroll.  

The lack of divestments could also be because we're not at a profit all time high, and commission isn't charged until then. Current investor profit is 6150BTC and ATH is 6167.8BTC, so there won't be any commission charged until players lose another 18BTC. Would be an additional 0.5% profit based off of current bankroll size.

[lixer]

People don't appear to be divesting from the bankroll.  

The lack of divestments could also be because we're not at a profit all time high, and commission isn't charged until then. Current investor profit is 6150BTC and ATH is 6167.8BTC, so there won't be any commission charged until players lose another 18BTC. Would be an additional 0.5% profit based off of current bankroll size.

I think people know that if it drops, like there are many people who divest, that would be a lot better and a lot more profitable. However we know that when that happens people will profit a lot more, so people do not want to be the one that divests and miss out on the profit.

So, "someone" has to divest to make the profits bigger, but nobody wants to be that person. It's a good problem to have honestly, think about a casino that has so many people trusting it with their money that the bankroll exceeds what it should be, that's a good problem to have.

There are so many people who would have hard time finding 1 bitcoin to bankroll their casinos, I could start a casino tomorrow and work for a whole year and I wouldn't even get 10 bitcoins invested into mine, so even though this drops the amount of money people could make, it's at least something that doesn't disturb the system.