bustabit – The original crash game

[tygeade]

By the looks of it people are still not divesting at the speed that people assumed, I mean by this time I assumed at least 50% of it would be gone when the situation was like this, but apparently people are fine with the changes and they are not leaving.

As long as we have people like Wang tang that lost a lot of money (even though he was up a lot and refused to leave) people will always be here for the hopes that they could make money that much.

I mean I am told that Wang tang was an early investor here as well, he had a lot of money from the early days even when he wasn't invested into bustabit, and then he invested a lot here and then he won a lot from here as well, so by logic he just lost what he earned from here and is not in big trouble. But that was still very profitable for people who were invested here and that's the dream they want to see again.

[1714964764]

1714964764

[1714964764]

1714964764

[malevolent]

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 have noticed that both number have increased since your post and no one seems to have started divesting yet. Do you remember what the numbers were at the beginning of March? (latest change to commissions?)

[devans]

Since the change came into effect there has been a net divestment of roughly 420 BTC.

[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.

I have noticed that both number have increased since your post and no one seems to have started divesting yet. Do you remember what the numbers were at the beginning of March? (latest change to commissions?)

According to DiceSites, the total profit was 6146BTC on March 2nd, which is roughly where the ATH should have been as well.

Also, interestingly enough, it seems someone (or many people) thought it was a good idea to invest a total 154BTC last week:


Feels like the commission will never get back to something more normal especially with how Bitcoin's price has been changing recently 

[RHavar]

Also, interestingly enough, it seems someone (or many people) thought it was a good idea to invest a total 154BTC last week:

lmao. I'm not sure what's more shocking, that 154 bitcoin is now 9 million USD?! or that people are happy paying over 80% commission.

But seriously, Daniel has really struck gold. iirc when Dooglus started the whole casino bankrolling he charged investors 10% commission. Pretty funny compared to where we are now  

[chazley]

The fact is, investors are going to stay invested in Bustabit for awhile because there's still not any better options for investors to get a yearly ROI than Bustabit at current commission rates. This could change in an instant if, for example, Dooglus decided to re-open Just-dice for Bitcoin or if, say, RHavar wanted to re-open a investment casino of some kind. This has created a massive demand for a new bitcoin investment casino that will at some point be filled by somebody. It happened when JD first shut down, investors didn't know where to put their money and PRC Dice exploded out of nowhere and dominated. Then, PRC through inept ownership and raising their bankroll commission % + a disastrous ICO fucked up and people moved their money to a few different dice sites, before Bustabit and Bustadice really took over as the pre-imminent Bitcoin investment casinos. Make no mistake about it, someone will fill this demand in the market, it's just a matter of who and when.

[dooglus]

iirc when Dooglus started the whole casino bankrolling he charged investors 10% commission. Pretty funny compared to where we are now  

The commission was 1% at launch.

It went up to 5% after Sun Jul 7 2013 and up again to a whopping 10% after Sun Aug 11 2013 due to customer demand.

[JollyGood]

I am not so sure that investors would flock back to any newly re-opened casino or gaming site even if it were run by reputable and trustworthy operators. After investors take their bankroll and move on they would probably not return.

The fact is, investors are going to stay invested in Bustabit for awhile because there's still not any better options for investors to get a yearly ROI than Bustabit at current commission rates. This could change in an instant if, for example, Dooglus decided to re-open Just-dice for Bitcoin or if, say, RHavar wanted to re-open a investment casino of some kind. This has created a massive demand for a new bitcoin investment casino that will at some point be filled by somebody. It happened when JD first shut down, investors didn't know where to put their money and PRC Dice exploded out of nowhere and dominated. Then, PRC through inept ownership and raising their bankroll commission % + a disastrous ICO fucked up and people moved their money to a few different dice sites, before Bustabit and Bustadice really took over as the pre-imminent Bitcoin investment casinos. Make no mistake about it, someone will fill this demand in the market, it's just a matter of who and when.

[dooglus]

I think it is obvious that many people missed on bitcoin chance

It's not obvious to me at all. Isn't it possible that there are still significant gains to be made on Bitcoin?

[chazley]

I think it is obvious that many people missed on bitcoin chance

It's not obvious to me at all. Isn't it possible that there are still significant gains to be made on Bitcoin?

Sent you a PM.

[Lakai01]

Isn't it possible that there are still significant gains to be made on Bitcoin?

Profits like from the good old times will - percentage-wise - not happen again, I think. There is simply a cap on the market cap somewhere. You just have to look at the market capitalization of BTC now and put it in relation to the market capitalization of large companies or gold, for example.

There is also the question of what "significant" profits are. I think it is very likely that BTC will perform better than the stock market ... But I don't think we will see a x3000 anymore

[dooglus]

I don't think we will see a x3000 anymore

That depends which fiat currency you're measuring it against and how dramatically that currency eventually collapses in value.

[Emitdama]

According to DiceSites, the total profit was 6146BTC on March 2nd, which is roughly where the ATH should have been as well.

Also, interestingly enough, it seems someone (or many people) thought it was a good idea to invest a total 154BTC last week:


Feels like the commission will never get back to something more normal especially with how Bitcoin's price has been changing recently  

As long as people keep thinking that it is profitable, they are not going to divest that easily, plus loyalty here is to a fault and that's why people do not want to leave. Think about it this way, if you own bitcoins and they are just sitting on your wallet, you are not making any profit at all, there is no chance for you to profit, however if you put it here, there is two options, either you are not going to make any profit here as well and no payment will be done so you will get out with nearly the same amount, or you are going to make a profit from this in the end.

When you have an option to just stay the same way or just go to bustabit for a potential, people will pick bustabit each and every single time, even if it got smaller profits compared to back in the day, it's still profits and that's why I think it's quite obvious we will end up with no divesting huge amounts anytime soon.

[RealMalatesta]

I think it is obvious that many people missed on bitcoin chance

It's not obvious to me at all. Isn't it possible that there are still significant gains to be made on Bitcoin?

Not like we used to. I mean I agree that you could triple your money in bitcoin even if you buy now, you could even 10x in the long run, those are huge gains and I agree. However lets face it, there were people who bought under 100 dollars and the price is over 50k easily right now, that means people made insane returns, returns that will never happen, which is why I think people did missed their chances to make that kind of return, you can't just put few thousand and become a millionaire, that is long gone for sure. This is why I think it is clear that some people are trying to over risk what they are doing and trying to make that kind of return.

Investing into a casino is a great idea to do that, house always wins so being the house means they will always win and that is why making a decision to not leave here makes sense to me as well.

[jpcfan]

I think it is obvious that many people missed on bitcoin chance

It's not obvious to me at all. Isn't it possible that there are still significant gains to be made on Bitcoin?

that is right doog. were in inning 3 maybe of a 9 inning game.


doog NFT's of you and your stuff would be worth alot of money.

hit me up on this site called just-dice.com and i will show you what i mean

[JollyGood]

The time for minimal investment and maximum profit via Bitcoin is over. The days you could buy thousands or hundreds of Bitcoin for a few USD$ and sell them for hundreds or thousands of USD$ each will not return as you said so many people bought for under $100 and now see Bitcoin worth over $50,000.

I think it is obvious that many people missed on bitcoin chance

It's not obvious to me at all. Isn't it possible that there are still significant gains to be made on Bitcoin?

Not like we used to. I mean I agree that you could triple your money in bitcoin even if you buy now, you could even 10x in the long run, those are huge gains and I agree. However lets face it, there were people who bought under 100 dollars and the price is over 50k easily right now, that means people made insane returns, returns that will never happen, which is why I think people did missed their chances to make that kind of return, you can't just put few thousand and become a millionaire, that is long gone for sure. This is why I think it is clear that some people are trying to over risk what they are doing and trying to make that kind of return.

Investing into a casino is a great idea to do that, house always wins so being the house means they will always win and that is why making a decision to not leave here makes sense to me as well.

[wiss19]

I do not agree that bitcoin is "nowhere near over" for the logic of price. Sure we will increase, and sure we will do fine but just like realmalatesta said we are not going to see 6000x type of increase, that would be silly and we would be basically at a marketcap that is bigger than all of stock markets combined, that's just silly to expect something like that.

We are already at a very high level and on top of that you are expecting it to go higher "that" much? I think it may do another 10x or so but that's about it, and that is why I do not see it going super high at any time soon. Not saying that it can't break over a million dollars for example but even if it can achieve that it is not the same thing. That is why I agree that bustabit is the best ever investment anyone can make, at least our bitcoins are not sitting around waiting for something else to happen.

[romero121]

I do not agree that bitcoin is "nowhere near over" for the logic of price. Sure we will increase, and sure we will do fine but just like realmalatesta said we are not going to see 6000x type of increase, that would be silly and we would be basically at a marketcap that is bigger than all of stock markets combined, that's just silly to expect something like that.

We are already at a very high level and on top of that you are expecting it to go higher "that" much? I think it may do another 10x or so but that's about it, and that is why I do not see it going super high at any time soon. Not saying that it can't break over a million dollars for example but even if it can achieve that it is not the same thing. That is why I agree that bustabit is the best ever investment anyone can make, at least our bitcoins are not sitting around waiting for something else to happen.

Expecting a 6000x increase of the market is something beyond the limitation. When we think of such a rise we need to think of the increase in the real-time usage associated with it. As of now we're getting into the very beginning days of large scale and mainstream adoption with the participation of few corporate firms. This market needs to widen, and only then the increase happening with the market seems to be fair. If not the growth seems to be a manipulated one against the stocks.

[bigdog6391]

investor commission at 90% does anyone know the estimated apy for investors at this commission rate?

[RHavar]

investor commission at 90% does anyone know the estimated apy for investors at this commission rate?

My rough guess:

Over the last 30 days, an average of 195.113741 BTC/day has been wagered. With 90% commission, that means investors should on average make:  0.195113741 BTC/day.

1 BTC would give you 0.029722% of the bankroll.  So you'd make 0.000058 BTC/day. 365 days of that, and you're at 0.0212 BTC.  

So basically 2% apy?  Makes me feel less bad about the 5 BTC I divested to play some rock-paper-scissors with @scenekingsuit