bustabit.com -- The Social Gambling Game

[Alvin Fahriza]

https://www.bustabit.com/user/moeseph?p=5

It's been a while since someone's cashed out >100x with a decent bet size. A smooth 3.13 btc from a 0.03 btc bet

Crash at 115..42x and he cashout at 105.55x as if he know it will crash soon he very lucky.

[katerniko1]

A nice win from Sparrow this morning:

woah he was betting hard there
what a lucky guy, still congratz on his winnings.!
regards.
-Katerniko1

[hopenotlate]

Just a nice screenshot of the my first two games today.

It just shows clearly how the outcome of two completely same bets (for betsize, cashout level and system busto) is affected by other players behaviour





Just felt the need to share it also because from time to time someone asks "Why is this game defined social?"

[hopenotlate]

Am I wrong or bonus calculations are messed up here?

How can people who cashed out earlier get a bigger bonus than later "cashouters"?

[hopenotlate]

Am I wrong or bonus calculations are messed up here?

How can people who cashed out earlier get a bigger bonus than later "cashouters"?

The issue is that the bonuses are calculated exactly, then rounded to the nearest satoshi. So say someone wins a 1.7 satoshi bonus, that ends up getting rounded to 2 satoshis.

If their bet size was 1 bit, that means they got a 2% bonus instead of the supposed 1.7%  

So it's not really an issue, just a quirk

To be honest I did noticed it was related only to people betting 1 bit but still couldn't figure out why it was happening.
Thanks for making it clear.

[s2btc]

We're back in action! You'll need to refresh the page though! Sorry about all the downtime, another OVH problem

http://travaux.ovh.net/?do=details&id=15238

great site i have made 2btc there
thanks @ryan
--s2btc

[hua_hui]

bustabit i have used for quite some time and i like the website. mainly is due to being a former moneypot that is where i got certain trust in it. sadly to say, i didnt win and lose most of the time. keep it up guys.

[RHavar]

So bitcoininformation (Mitchełł) and I have been looking into the possibility of ordering physical bustabit buttons. They would connect to your computer (via USB) and emulate a keyboard with some keystroke that the bustabit website listens to. When you hit the button you could place a bet, or more importantly cash out.

Picture something like:


(but not as cool looking).


The main problem just seems to be the cost of international shipping. If we ordered a few hundred of them, would you guys be interested in buying them for only the price of shipping $5 or $6 USD?

[dooglus]

I see that a bustabit clone is down after having its hot wallet stolen by a hacker using an exploit in their deposit mechanism:

Site was taken offline because of an exploit in the deposit mechanism. Investigating now.

I'm guessing that they implemented their own deposit mechanism (they talk about having been tricked into trusting fake blockr.io callbacks) and that bustabit itself is safe from the exploit, but it would be good to have that confirmed here.

[RHavar]

I see that a bustabit clone is down after having its hot wallet stolen by a hacker using an exploit in their deposit mechanism:

Site was taken offline because of an exploit in the deposit mechanism. Investigating now.

I'm guessing that they implemented their own deposit mechanism (they talk about having been tricked into trusting fake blockr.io callbacks) and that bustabit itself is safe from the exploit, but it would be good to have that confirmed here.

That's correct. I've never looked at tothemoon's deposit code but bustabit doesn't use blockr.io at all, but rather uses the code from https://github.com/moneypot/bustabit-depositor which itself queries bitcoin-core (over rpc) and directly (through the database) updates users balances/deposit history*. I do not believe there is or has been an exploit in this.

(Personally I'm far too paranoid to trust a third party to tell me abouts deposits)



* The code is kind of shit, I wouldn't advise people to copy it or use it as inspiration if starting from scratch. It suffers from a few design problems, which I've fixed in the moneypot depositor. I've been meaning to backport it to bustabit, but never got around to it.

[RHavar]

Updated wager/profit chart:



Apparently 700 is a lucky number for players!

[Sir_lagsalot]

But there's a current site called moneypot....

I've gambled a few times on bustabit, and I've gotta say, If you really know how to use that 1% skill, you can make a lot of profit.

If you just happen to be that 99%, bad luck, you lose.

[RHavar]

Nice win today by kapi18wro, hitting a 8.24x with a 0.742 BTC bet. That brings his total net profit to 17.77 BTC for those watching his slow-and-steady assault on the bankroll =)

[oryeger]

Hi Ryan, can you please explain the idea of the max profit, how is it calculated and effect the multiplier ?

[Ghris]

Hi Ryan, can you please explain the idea of the max profit, how is it calculated and effect the multiplier ?

Not Ryan, but I think I can answer it.

The max profit is a number calculated by the height of the bankroll. Bustabit calculates the max profit by the kelly criterion. That basically means you can win (i believe it is this number now) 3% of the current bankroll of the site.

It does not affect the multiplier at all, except for the following: If everyone combined bet 2 btc on a max profit of 10 btc, the game cashes everyone out that is not yet cashed out when the profit of everyone combined reaches 10 btc. To make it real simple, let's say you are the only player playing currently. You bet 1 btc with a max profit of 10 btc. If you keep it running, the game will cash you out at 10x multiplier. Even though the multiplier could have gone higher.

[RHavar]

Hi Ryan, can you please explain the idea of the max profit, how is it calculated and effect the multiplier ?

Not Ryan, but I think I can answer it.

The max profit is a number calculated by the height of the bankroll. Bustabit calculates the max profit by the kelly criterion. That basically means you can win (i believe it is this number now) 3% of the current bankroll of the site.

It does not affect the multiplier at all, except for the following: If everyone combined bet 2 btc on a max profit of 10 btc, the game cashes everyone out that is not yet cashed out when the profit of everyone combined reaches 10 btc. To make it real simple, let's say you are the only player playing currently. You bet 1 btc with a max profit of 10 btc. If you keep it running, the game will cash you out at 10x multiplier. Even though the multiplier could have gone higher.

Great explanation, but I'll make one minor correction: the max profit isn't calculated using the kelly criterion (that's only what sane people use, and what moneypot uses). I'm just using a fixed 3% of the site bankroll, which is probably around ~6-10x the kelly. That said, I'm also under-reporting the site of my "true bankroll", like for instance when recently the whales started raping the site, I kept filling up the bankroll (as I was confident they were legitimate whales, not someone with an exploit)

[enhu]

The explanation had me tangled lol..
Anyway, I can't believe I missed this site after all the months of staying here in the forum, playing poker and dice games.
I should start learning these stuff from now on.

Updated wager/profit chart:



Apparently 700 is a lucky number for players!

where exactly did you bid? I can't see it in the chart.

[RHavar]

The explanation had me tangled lol..

Basically the "max profit" functions as a stop-limit to the amount of money that bustabit.com can lose in a single game. If the house ever loses this amount of money, everyone is instantly cashed out at that point (enjoying that amount of money)

[rfisher1968]

This is just a heads up. I've been waiting for more then 2.5 hours for a withdraw to confirm. I'm posting the txid to see if anybody can see why its taking so long.

txid: e5a361b7da376bcf7f9575e1a16414faac6261f850740dabf9d9f6c0f1b445ed

[oryeger]

Hi Ryan, can you please explain the idea of the max profit, how is it calculated and effect the multiplier ?

Not Ryan, but I think I can answer it.

The max profit is a number calculated by the height of the bankroll. Bustabit calculates the max profit by the kelly criterion. That basically means you can win (i believe it is this number now) 3% of the current bankroll of the site.

It does not affect the multiplier at all, except for the following: If everyone combined bet 2 btc on a max profit of 10 btc, the game cashes everyone out that is not yet cashed out when the profit of everyone combined reaches 10 btc. To make it real simple, let's say you are the only player playing currently. You bet 1 btc with a max profit of 10 btc. If you keep it running, the game will cash you out at 10x multiplier. Even though the multiplier could have gone higher.

Thank you man, your explanation was very clear.
At first I though that it affects the multiplier.

Ryan can you please explain if you have time how would you use kelly criterion in order to calculate the max bet?