bustabit.com -- The Social Gambling Game

[ranlo]

First of all, I'll just make it clear this is purely hypothetical. I haven't yet decided anything

An equity share idea is a good idea. And this way you don't even need to take a cut, you just own all the shares.

One thing is that you need to make it transparent what one equity share is worth.

Well, that is something the market would need to decide. But I would be totally transparent about networth, bankroll, etc

For instance, someone recently won almost 30 BTC which reduces our assets by that amount. But it's unclear how that would affect a share valuation (perhaps it's so fuzzy that it makes no impact, perhaps people panic sell, perhaps people buy as it's a sign of healthy activity).

And actually one thing with equity shares is that you have the chance to lose money. It's actually a completely different business model. With something like Just-dice your money is completely liquid. It's like a savings account, you make profit when the casino wins. And you give a chunk of those profits to the bank.

But an equity is completely different. What you're buying takes into account future returns it's not just based on net value. While you're not taking a 10% cut you'll be selling the premium which could be high.

Yes, that's a big difference. I would only be interested if there could be a robust secondary market, but a large amount of the value will be derived from expected future returns.

One thing I want clarification about is the difference you'll make in the company and you. Currently you have a 100% stake in the bankroll. When the company decides to sell shares will they be selling new shares or selling your shares? When the company buys shares, will dividends on those shares be going towards the companies NAV or will the be distributed to you?

I'm open to suggestions, but I was thinking that I would start off with 100% equity (what I currently have) and have the company start issuing shares, which it sells on the market. The money the company raises will get put into the bankroll, which will in-turn increase the casino limits. Then I could personally buy or sell, just like any other investor. If the company is holding shares at the time of dividends, the money would just go towards the NAV.

EDIT: I think bittrex and poloniex support having coloured coins on their exchange.

Ohh! I didn't know. I'll check that out now, that's great to hear

Edit: bittrex is out:

Note that we cannot list currencies where its primary purpose is to support gambling, illegal drug sales, or any other activity that is illegal in our jurisdiction.  We also cannot list currencies that would be construed as a security such as digital currencies that promise/market profits or represent shares of a company.

Havelock Investments may work for this, as they're a long-standing site and have a decent amount of users. An alternative would be to use the Nxt platform (which is both decentralized and has a built-in dividend function).

[chriswen]

I realized just-dice value is also based off of future earnings. That's because they're use an altcoin that is freely traded.

Yeah it'll be interesting how people value it.

The casino buying shares back makes a lot of sense. As for issuing shares that'll need to be a bit structured. While the money is going straight into the bankroll and increasing NAV for everyone, it's also diluting everyone's equity by a bit.

[ranlo]

I realized just-dice value is also based off of future earnings. That's because they're use an altcoin that is freely traded.

Yeah it'll be interesting how people value it.

The casino buying shares back makes a lot of sense. As for issuing shares that'll need to be a bit structured. While the money is going straight into the bankroll and increasing NAV for everyone, it's also diluting everyone's equity by a bit.

What Tothemoon does is offer shares at x price. Dividends are then given as new shares (i.e., let's say I bought 1 share for 1 BTC, and my dividend would be 0.1 BTC. I'd now have 1.1 shares). They can then be sold back at NAV (1 BTC/share), so you can cash in that 0.1 share for 0.1 BTC and withdraw it.

This makes things a lot easier than trying to manage things atomically, I think.

[Aleator]

 Ryan reminds me the early days of Doog and just-dice

[FanEagle]

We have 3 smart minds on the gambling section mainly.
Doog,Stunna,and then Ryan 

[ranlo]

We have 3 smart minds on the gambling section mainly.
Doog,Stunna,and then Ryan 

So true. Dooglus never fails to amaze me, either. He does a lot of in-depth analyses that just blow my mind and it's a great pleasure to read his work in regards to gambling and such.

I don't have a lot of experience with Stunna...

Ryan, though, is one of my newer favorites (I haven't known about him/BAB/MP that long, but he's shown himself to be a bright, helpful individual).

[Aleator]

 The difference between stunna and ryan/doog is that doog and ryan is here all the time , they talk they become friendly they chat , they are like one of us . Stunna on the other hand is the boss with cigar on his hand on a beach at some tropical island He can't be bothered with coming down to our level for any reason.

[btcdealer.nl]

I was wondering why the site's autobot has a delay of one bet when i start it. And is there maybe a better bot made by someone else?

[Monopoly]

I get many lag ... latency is almost 1360 ms for your site ......

[RHavar]

I get many lag ... latency is almost 1360 ms for your site ......

Is this on your end, perhaps? I'm pretty close to the server, but have latency under 100ms. Regardless, I'd highly advise you play exclusively with the auto-cashout to prevent any latency related issues, like not being able to cashout

[RHavar]

I was wondering why the site's autobot has a delay of one bet when i start it. And is there maybe a better bot made by someone else?

Yeah, there's a few around. Some of the players trade (and sell) the little scripts.  The builtin bot behaves weirdly if you activate it in the middle of a game that you're currently playing, if that's the issue you have?

[Aleator]

 No matter how much I play it , no matter how much I know it . Whenever I read bustabit I will ALWAYS hear bustanut

 On the other hand , great branding name , keeping it rememberable like that.

[RHavar]

No matter how much I play it , no matter how much I know it . Whenever I read bustabit I will ALWAYS hear bustanut

  Well, at least that's better than the person who said he was continually reminded of "bustabitch"

[btcdealer.nl]

I was wondering why the site's autobot has a delay of one bet when i start it. And is there maybe a better bot made by someone else?

Yeah, there's a few around. Some of the players trade (and sell) the little scripts.  The builtin bot behaves weirdly if you activate it in the middle of a game that you're currently playing, if that's the issue you have?

Well i wasn't playing the game at that moment but did start the bot in the middle of a already running game. the next round it didnt start right away. its started the round after that one.

[dooglus]

The difference between stunna and ryan/doog is that doog and ryan is here all the time , they talk they become friendly they chat , they are like one of us .

Get off my lawn!

[birdcat90]

thats right, Dooglus,Ryan and stunna are the senior on gambling..

so everything that they said will always have good reason, but sometimes people not get it right..so thanks for them to care about gambling world

[tonycamp]

well seems a good site to gamble a few satoshis just for  fun but people dont get too nervous into try out money of you get broken like me...

[shulio]

well seems a good site to gamble a few satoshis just for  fun but people dont get too nervous into try out money of you get broken like me...

It is a very good site and unique but you should be careful that this game is very addictive , if you try it you will want to keep on playing so just remember to stop before it is too late  or you may lose alot

[ranlo]

I get many lag ... latency is almost 1360 ms for your site ......

Is this on your end, perhaps? I'm pretty close to the server, but have latency under 100ms. Regardless, I'd highly advise you play exclusively with the auto-cashout to prevent any latency related issues, like not being able to cashout

Is autocashout not affected by ping? Like is the autocashout amount sent to the server once the bet is placed? I was under the impression it was just that the script will locally cash out when it's time.

[RHavar]

Is autocashout not affected by ping? Like is the autocashout amount sent to the server once the bet is placed? I was under the impression it was just that the script will locally cash out when it's time.

The autocashout value is indeed sent to the server, so it's guaranteed to take effect. I recommend players use it exclusively to reduce any latency-based worries, but most players prefer to manually hit the button and be at the mercy of lag/latency.  Actually, it's impossible to not play with the autocashout as the server will only accept a bet with one set. (it just might be higher than you'd normally intend)