How safe is it to invest in just-dice

[dooglus]

I vouch for JD. My tiny investment of 24 coins has now generated a profit of 5 coins for me. Dooglus is legendary (not just as a member on this forum) in the crypto-gambling world. He held almost 10K BTC at one time IIRC. Whatever i have seen of him. he has been extremely honest. In fact, he still holds some BTC from some folks who did not divest at the time he had to close Bitdice due to laws in Canada. If anyone else had 10K BTC in their charge at the time when BTC went up to $1000 apiece, they might not have stuck around. It would have been very easy for him to run away with 10K BTC but he did not, this speaks volumes about his integrity and has pushed up my trust in him!

It was around 65k BTC at one point (see this chart, and, if you're wondering why it suddenly drops to zero, this one, to which I moved the coins after a mishap involving me 'forgetting' the cold wallet in a hotel room and checking out...), and "Bitdice" is something else.

Interestingly I've had 4 different people approach me in the last 24 hours asking for their JD BTC balance back. Until yesterday it had slowed to around one per week.

I don't know if the crash in BTC price has caused them to check their JD account and notice that it no longer deals in BTC or what. Only 48 people left to go now with outstanding balances of 1 BTC or more!

[picolo]

I vouch for JD. My tiny investment of 24 coins has now generated a profit of 5 coins for me. Dooglus is legendary (not just as a member on this forum) in the crypto-gambling world. He held almost 10K BTC at one time IIRC. Whatever i have seen of him. he has been extremely honest. In fact, he still holds some BTC from some folks who did not divest at the time he had to close Bitdice due to laws in Canada. If anyone else had 10K BTC in their charge at the time when BTC went up to $1000 apiece, they might not have stuck around. It would have been very easy for him to run away with 10K BTC but he did not, this speaks volumes about his integrity and has pushed up my trust in him!

It was around 65k BTC at one point (see this chart, and, if you're wondering why it suddenly drops to zero, this one, to which I moved the coins after a mishap involving me 'forgetting' the cold wallet in a hotel room and checking out...), and "Bitdice" is something else.

Interestingly I've had 4 different people approach me in the last 24 hours asking for their JD BTC balance back. Until yesterday it had slowed to around one per week.

I don't know if the crash in BTC price has caused them to check their JD account and notice that it no longer deals in BTC or what. Only 48 people left to go now with outstanding balances of 1 BTC or more!

What is the biggest amount of BTC yet to be claimed on just-dice?

How difficult is it to move 10's of BTC into CLAM and then back to BTC at the moment?

Depends, the current buy market is just over 50 BTC . Current price is 0.0038 . So if you were to buy 10 BTC worth, then you would be driving the price up to 0.005.
And if you were to sell right now, you would drop it to 0.0027.

Wait thats pretty crazy. The price is that sensitive, or is that with all new alt coins that gain traction like similar end up being doge coin?

I selected CLAM for JD in part because of its low market cap. I don't want to be responsible for millions of dollars of cryptocurrency. The fact that the market is too shallow to support even 10's of BTC of volume without shifting drastically is a good thing from my point of view.

The complaints I see in the chat about the relatively small maximum bet size now, I see as a good thing:

  (152350) <JimC> I remember the good 'ol days when max profit + $100,000+
  (967107) <eustice> lol this is like dollar scratch tickets

If you hold more than 2 millions of $ worth of CLAM on the just-dice bankroll and just-dice balances you will stop accepting investments or deposits?

The CLAM supply is going to 1 million within 2 years so if the price is more than 2$/CLAM, are you saying you will do something to limit the number of $ you are holding? It is very bearish for CLAM!

[dooglus]

What is the biggest amount of BTC yet to be claimed on just-dice?

If you're asking what the largest unclaimed BTC balance is, it's around 130 BTC. The 2nd biggest is around 70 BTC.

are you saying you will do something to limit the number of $ you are holding? It is very bearish for CLAM!

I am working on a change that will allow big investors to keep the majority of their coins locally, but still have them 'invested' on the site. I'm hoping that will greatly reduce the number of coins I'm in control of since it will allow people to stake most of their own coins and keep 100% of the staking reward rather than paying 10% of it to Just-Dice as commission.

JD currently has control of more than 60% of all the CLAM that exists. That in itself should be bearish for CLAM, and remedying that situation (by attempting to limit the number of coins JD holds) should be positive for the coin.

[picolo]

What is the biggest amount of BTC yet to be claimed on just-dice?

If you're asking what the largest unclaimed BTC balance is, it's around 130 BTC. The 2nd biggest is around 70 BTC.

are you saying you will do something to limit the number of $ you are holding? It is very bearish for CLAM!

I am working on a change that will allow big investors to keep the majority of their coins locally, but still have them 'invested' on the site. I'm hoping that will greatly reduce the number of coins I'm in control of since it will allow people to stake most of their own coins and keep 100% of the staking reward rather than paying 10% of it to Just-Dice as commission.

JD currently has control of more than 60% of all the CLAM that exists. That in itself should be bearish for CLAM, and remedying that situation (by attempting to limit the number of coins JD holds) should be positive for the coin.

Thank you for your answers. Decisions you make about just-dice influences CLAM greatly.

If you implement the system of fractional reserve or any system where you don't keep most of the CLAM, there will likely be a lot of CLAM that will be sold for BTC.
The price will be supported by those who want to invest more on just-dice and once the change has been implement and the price has changed accordingly, it will be business as usual.

The 10% fee on CLAM stacked can be seen as the fee to help reduce variance and stack 24/7 as opposed to have a higher variance and the need of a computer online 24/7. If you are so concerned about it you can always reduce the fee on CLAM stacked.

I will like to be able to have 100 CLAM on just-dice counted as 1000 CLAM so I will be happy when you implement the change.

[dooglus]

I will like to be able to have 100 CLAM on just-dice counted as 1000 CLAM so I will be happy when you implement the change.

I have a version of the site up for testing that allows you to do exactly that.

See my post here for details:

https://bitcointalk.org/index.php?topic=238613.msg10101347#msg10101347

[picolo]

I will like to be able to have 100 CLAM on just-dice counted as 1000 CLAM so I will be happy when you implement the change.

I have a version of the site up for testing that allows you to do exactly that.

See my post here for details:

https://bitcointalk.org/index.php?topic=238613.msg10101347#msg10101347

I am on it and testing, it should be fun when you implement it on just-dice! People will likely be less crazy when it's their money than when it's play money.

[marilyn4325]

I wonder if it is possible to write some clever algorithm which predicts the next number, if you roll the dice thousands of times and use all the numbers for it, because a new server seed is generated only when I click the randomize button, and all other input numbers are known. The invested money would be gone very fast. Maybe better to generate a new server seed for each roll, of course with the same provably fair concept, that the gambler can see the server seed hash before rolling, and then with the randomize button the client random number can be changed. Just changing the random number independently with the same server seed, might be dangerous, because of some clever algorithm.

Does the site stop, if someone manages to write such a clever algorithm and wins e.g. more than half of the site investment, to investigate it? Or did the site admin get notified, if someone wins with 1000% luck in the stats and similar things?

And how safe is the server seed generator? It should be a true random number generator. Just software is not safe, because you have to assume that the source code is known. "/dev/random" might work, depending on the CPU, but might be not fast enough, with the new server seed generation concept.

Finally how safe are the servers? Is the source code and server setup audited by a security company? Does it have intrusion detection systems, DDoS firewall protection, multiple fallback servers around the world, good data backup systems etc.?

[picolo]

Just-dice and doog have a excellent reputation and personally I would say pretty safe. But things happen, think about gox or inputs.io... you should never leave more money than you can afford to lose on any site.

I agree with this wholeheartedly even though I would trust those sites with my whole wallet! Definitely don't put in more than you can afford to lose. That goes for any and every gambling thing you do.

The thing is even just-dice can be hacked.

[picolo]

Just-dice bankroll is at 300 000$ now. It should keep growing as the bankroll grows and even more if the price of BTC goes up.
The /cold command will grow the bankroll but not the amount of CLAM that dooglus is responsible for.

[Tristana]

just dice is legit as it gets outside from primedice. everythings been a scam lately or a ponzi.

[Udyr]

does anyone know where to find clam coins super cheap?

[picolo]

does anyone know where to find clam coins super cheap?

You can dig them on non dust doge ltc and btc addresses of the day of CLAM distribution in May 2014. You can try the addresses on just-dice chat, more on the just-dice FAQ.

Or this faucet for dust CLAM where there is still 1CLAM to grab http://myfreeclams.com/

[Ziggs]

damn where the heck have I been? i just noticed just-dice being reopened using that alt coin lol.

[Xerath]

does anyone know where to find clam coins super cheap?

You can dig them on non dust doge ltc and btc addresses of the day of CLAM distribution in May 2014. You can try the addresses on just-dice chat, more on the just-dice FAQ.

Or this faucet for dust CLAM where there is still 1CLAM to grab http://myfreeclams.com/

so just curious is this alt coin will drop like doge coin did?

[BayAreaCoins]

so just curious is this alt coin will drop like doge coin did?

DOGE had a market cap of well over 50 million dollars.

CLAMS current market cap is about $413,000... I think we have room to grow!  Honestly,  CLAM is much better structured than DOGE.  Similar but much better fundamentally (in my opinion.)

http://coinmarketcap.com/currencies/clams/

Only reason to have server racks with PoS is for this:

[marilyn4325]

Just for fun I ported the JavaScript verifier to a simple Python script, I hope it is right, worked for all bets I tested it with:

http://pastebin.com/uB1675LG

How provably fair works: when you click the "randomize" button, write down the server seed hash. Then gamble. Finally hit the randomize button again, click "ok" to generate a new server seed and then the "randomize" button again: it will show you the server seed which was used for your last rolls with the previous server seed. Use this, the hash and your client seed and start my script (or the JavaScript verifiers linked from the "Fair?" page at just-dice.com). It will test, if the server seed hash was created from the server seed and you will see the same lucky numbers. No cheating possible.

[dooglus]

Just for fun I ported the JavaScript verifier to a simple Python script, I hope it is right, worked for all bets I tested it with:

http://pastebin.com/uB1675LG

Do you mind if I link to a copy of that on the site?

[marilyn4325]

Just for fun I ported the JavaScript verifier to a simple Python script, I hope it is right, worked for all bets I tested it with:

http://pastebin.com/uB1675LG

Do you mind if I link to a copy of that on the site?

Sure, you can use the script for whatever you like. Additional note: needs Python >=3.

[Berthorl]

so just curious is this alt coin will drop like doge coin did?

DOGE had a market cap of well over 50 million dollars.

CLAMS current market cap is about $413,000... I think we have room to grow!  Honestly,  CLAM is much better structured than DOGE.  Similar but much better fundamentally (in my opinion.)

http://coinmarketcap.com/currencies/clams/

Only reason to have server racks with PoS is for this:

thanks for the insight esp about the market cap. But damn, I wish I had money like that laying around lol.

That picture says, im too rich.. lol.

[picolo]

Just-dice is in CLAM now. It looks like it will stay in CLAM even if it could come back to Bitcoin one day. You can now declare an offsite investment and get a bigger portion of profits but more risks for your onsite investment.