BitDice.me - UPGRADED TO V3, MOVE YOUR STATS!

Quote from: NLNico on November 27, 2014, 12:50:44 AM

Quote from: dogedice.me on November 26, 2014, 04:11:37 PM

I'm thinking about allowing it to everyone, but I'm afraid for those who will risk with all what they have. And it will lead to effective 10xKelly to everyone.

That would be their own decision though, and since you allow gambling too.. I assume you don't mind letting people risk losing their money :p It would be a problem if a big whale comes by and kills the max profit, but that would already happen now too. (probably worse if everyone has 10x though)

Quote from: dogedice.me on November 26, 2014, 04:11:37 PM

The main problem here is to solve investor-owner trust problem, not to win more.

Yes, but now it only solves that problem for big investors and make small investors like me consider putting 5x more money than they are comfortable risking on the site. Personally I would probably not do it 10x but 5x btw. And if I would lose a big part of my initial investment I would really add some extra.

Quote from: dogedice.me on November 26, 2014, 04:11:37 PM

NLNico here's the list of all invested amounts (without 10% comm. deduction) with kelly level:

367.3924163495+28.6673326139 = 396 (around 394) seems to work out

Actually I am a bit surprised there are not that many investors. I might be the only/first one to bring this up, so perhaps it's not an issue for the other investors. In the end I don't care "that much", so not asking to change it just for me hehe. But I thought I would just bring it up as discussion point

Well that's why I ask for solvency proof for investors Wink

They need to sign a wallet with at least 50-100BTC to be able to set the kelly level. So basically it's so-called fair for other investors as everyone know that he HAS that money and it's the same as just invest e.g. 3000BTC.

I know it's correct by math etc and I am not saying the two 10x investors are not really willing to invest a lot. I am just saying big investors only have to risk 10% of their potential invest funds on your site. And small investors 100% (and are actually forced to put relatively bigger amounts since the "virtual BR" is so big.) IMO that is not exactly fair, but nvm. I guess dooglus was right :X

Quote from: dooglus on November 26, 2014, 07:08:13 AM

As for whether it's silly, I guess the site is happy, because they can say "we have the biggest max profit of any BTC dice site", and I expect the whale investor is happy, because he's getting most of the profits. The only people who might not be happy are the smaller investors. But I guess the site can do without those anyway?

I am not affiliated with PRC in any way, and even though I am a long-time investor there, I have serious interest to invest some at BitDice.

I have explained my reasoning very clear and made clear that I agree it is a great way to prevent the risk of a site admin running off with coins. I just said I think small investors should "enjoy" that same minimum risk. Is that really so crazy to suggest?

Yes. I already made that same conclusion before your "attack" at me:

Quote from: NLNico on November 28, 2014, 04:23:51 AM

IMO that is not exactly fair, but nvm. I guess dooglus was right :X

Quote from: dooglus on November 26, 2014, 07:08:13 AM

I'm a bit confused with how the leverage in this site works...

Sorry if this question has been asked before... If I use 10x kelly, my 1 BTC is calculated as *a virtual 10 BTC* rite?
What happen if, for example the site lose 20% of its bankroll in a single bet? Which make my 10 BTC drop to 8 BTC? Remember that my actual investment is only 1 BTC?

BitDice only allows bigger investors to use leverage, so it wouldn't be possible with BTC1. Default is 1x kelly. But anyway:

With 10x kelly you could lose (10 * house edge) per roll if it was a max profit bet. So with BTC1 it would be 10 * 1% = 10% of BTC1 = BTC0.1 per roll, only if the bet is max. profit (currently BTC43.) Also if the player wins that bet, on the next max profit bet you would only lose 10% of your leftover BTC0.9 so BTC0.09. Etc.

The max profit (BTC43.84) bet is 1% of the "virtual bankroll" (BTC4384) and currently 43.84/971.758348*100 = 4.5% of the real bankroll. If everyone had 10x kelly the max. profit would be 10% of the real bankroll. 20% of the bankroll would be only possible if the house edge was 2% instead of 1% (and everyone was using 10x kelly) or if everyone had 20x kelly.

biggest rain to date happened last night Cheesy

Quote from: antonlevay on December 06, 2014, 09:42:57 PM

biggest rain to date happened last night Cheesy

Yup,

It was crazy but with 42 people claiming, it turned out to be lower than expected!

Having said that, we really need to thank toDude for the multiple rains over the past few days and wish he brings that site profit down similar to Justagambler who took down litedice yesterday. I lost 1 LTC in the frenzy but happy to see site profit where it should be! Wow would be annoyed, but i guess he knew the risks.

P.S. ROFL, look at toDudes statement in chat, it will be immortalized on here now in bitcointalk.