dogedice.me (OP)
|
|
November 28, 2014, 03:39:43 AM |
|
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) 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. 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 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.
|
|
|
|
NLNico
Legendary
Offline
Activity: 1876
Merit: 1295
DiceSites.com owner
|
|
November 28, 2014, 04:23:51 AM |
|
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 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?
|
|
|
|
NLNico
Legendary
Offline
Activity: 1876
Merit: 1295
DiceSites.com owner
|
|
November 28, 2014, 04:41:34 AM |
|
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?
|
|
|
|
NLNico
Legendary
Offline
Activity: 1876
Merit: 1295
DiceSites.com owner
|
|
November 28, 2014, 04:50:50 AM |
|
Yes. I already made that same conclusion before your "attack" at me: IMO that is not exactly fair, but nvm. I guess dooglus was right :X 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?
|
|
|
|
coincolonel
Member
Offline
Activity: 70
Merit: 10
|
|
November 28, 2014, 02:16:17 PM |
|
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?
|
|
|
|
NLNico
Legendary
Offline
Activity: 1876
Merit: 1295
DiceSites.com owner
|
|
November 28, 2014, 03:33:02 PM |
|
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.
|
|
|
|
antonlevay
Member
Offline
Activity: 109
Merit: 10
|
|
December 06, 2014, 09:42:57 PM |
|
biggest rain to date happened last night
|
|
|
|
micky123
Legendary
Offline
Activity: 1022
Merit: 1005
|
|
December 07, 2014, 05:01:02 AM |
|
biggest rain to date happened last night 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.
|
|
|
|
antonlevay
Member
Offline
Activity: 109
Merit: 10
|
|
December 07, 2014, 05:08:01 AM |
|
biggest rain to date happened last night 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. yep haha. he said he hope his gf dont ever see what he gave away
|
|
|
|
Dinja
Newbie
Offline
Activity: 1
Merit: 0
|
|
December 07, 2014, 08:17:34 PM |
|
Love the Dice.me sites so much I decided to bust my bitcointalk cherry and say something Thanks for the fun site Alex!
|
|
|
|
singpays
|
|
December 07, 2014, 08:22:55 PM |
|
Wow 1st bit on 40btc big hit amazing!! username is WoW haha..
|
|
|
|
antonlevay
Member
Offline
Activity: 109
Merit: 10
|
|
December 07, 2014, 08:24:47 PM Last edit: December 07, 2014, 08:55:23 PM by antonlevay |
|
he has made this bet twice before losing once then winning here is a screen of what happened now thoguh and just now he lost a 50 btc bet edit- and just now won 50 btc bet
|
|
|
|
pthnmj
|
|
December 10, 2014, 05:56:07 PM |
|
toDude whaling it hard today!!! Come for the entertainment, rain, and gamble!
|
|
|
|
Holderbert
Newbie
Offline
Activity: 42
Merit: 0
|
|
December 10, 2014, 09:38:36 PM |
|
BitDice wagered more btc this week than PD did according to http://dicesites.com/
|
|
|
|
pureelite
|
|
December 10, 2014, 10:54:00 PM |
|
nice to see that this site is going skyhigh
1000btc already invested!!!
|
|
|
|
antonlevay
Member
Offline
Activity: 109
Merit: 10
|
|
December 10, 2014, 11:52:16 PM |
|
yep woot woot and check out the other .me family sites all in the top 10
|
|
|
|
singpays
|
|
December 12, 2014, 04:16:59 AM |
|
Biggest Rain Ever 3.046472BTC From ToDude & Alex Thanks Guys
|
|
|
|
singpays
|
|
December 12, 2014, 04:44:02 AM |
|
Rain Received 45+ Members Thanks You ToDude & Alex
|
|
|
|
mrpatron
Newbie
Offline
Activity: 6
Merit: 0
|
|
December 12, 2014, 05:04:37 AM |
|
That was a nice rain forsure
|
|
|
|
joksim299
Legendary
Offline
Activity: 2184
Merit: 1014
Bitdice is scam scam scammmmmmmmmmmmmmmmmmmmmmmmmm
|
|
December 12, 2014, 11:03:28 AM |
|
Rain Received 45+ Members Thanks You ToDude & Alex This was crazy. To compare that with this
|
..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
|