bustabit.com -- The Social Gambling Game

[RHavar]

How's the investment feature coming along? Is that still on track to be released?

Yeah, that part has all been written and extensively tested. I'm honestly super happy with how that has all turned out. The rest of the site, however, is still pretty rough. But at this point it's primary cosmetic stuff, so in the coming week I hope to iron most of it out.

[RHavar]

Stay tuned for a big announcement:

https://www.timeanddate.com/countdown/generic?iso=20170930T14&p0=60&font=cursive&csz=1


I don't want to spoil the surprise, so I won't say anything more than it's not related to bustabitv2 or anything  (which is going pretty well, you can play out with a pre-beta at dev.bustabit.com with some fake bits)

But it's exciting news!

[cruisinthrutime]

Your releasing the investment feature i guess...

[fiscorcle]

Your releasing the investment feature i guess...

Thought that was baked into v2?

[RHavar]

Your releasing the investment feature i guess...

Thought that was baked into v2?

Yeah, that is coming with the v2 release (which you can play around with at dev.bustabit.com )

[fiscorcle]

Your releasing the investment feature i guess...

Thought that was baked into v2?

Yeah, that is coming with the v2 release (which you can play around with at dev.bustabit.com )

So this is something additional?

[piloder]

Yeah, that is coming with the v2 release (which you can play around with at dev.bustabit.com )

Investment feature will be a nice addition on bustabit and the new homepage design is really nice. However it looks like game play withdow will not be changed a lot.

A new logo is just awesome compared to what bustabit have before. When this new version will be released?

[jamids]

I enjoyed playing bustabit before and have tried many combinations so that I can win even if there will be multiple crashes. It seems effective at first then revise again my strategy because I would have losing streaks. Greediness is really your enemy in this kind of game because seeing your money multiplied in just a couple of rounds is so exciting but if there will be multiple crashes and I use martingale then I would end up in a loss again. I am still in red in this site but I was able to withdraw about half of my initial capital on it.

[RHavar]

If anyone can help me find issues with:

dev.bustabit.com

It would be greatly appreciated. Issues can be reported here: https://github.com/bustabit/issues/issues

Or via the dev.bustabit.com chat, or through the dev.bustabit.com support system.


--

(And remember, dev.bustabit.com uses it's own isolated database and testbitcoin instead of real bitcoin. The testnet withdrawal system is currently not functional either)

[Josepht]

@RHavar I do like the layout of the beta (I guess ??), but one question remains.

Why exactely are you wanting to built in the investment feature? Is the current bankroll not large enough to sustain large bets? Have there been requests for making a higher max bet (I don't know if it exists, but I can imagine so).

[RHavar]

Why exactely are you wanting to built in the investment feature? Is the current bankroll not large enough to sustain large bets? Have there been requests for making a higher max bet (I don't know if it exists, but I can imagine so).

I guess it comes down to a few things: Offering bigger bets will definitely be nice, it's pretty commonly requested by whales. The current max-bet is 1 bitcoin, which is pretty small compared to some other sites. But even so, largely because of the low amount of games per day (and everyone playing them at the same time) there's a *lot* of variance: (e.g. I think today I made ~50 BTC, and yesterday lost about the same) you can can see here: https://dicesites.com/bustabit


It'll also help in that investors will have to pay 25% of the expected value, regardless of how the site performs -- so that will also lower my variance considerably.

But probably the biggest reason, is I hope that the invest system makes bustabit itself a more interesting/popular/vibrant community. Giving people the option to share in bustabit's success (even if they only invest $50) I think has the potential to cause the the site significantly. I'm also expecting that I will be the vast-majority investor (I have a huge advantage over other investors: I have no counter-party risk) -- so even if it only achieves a modest increase in the site volume -- I think it'll be a net plus.

And finally, it gives me a lot more personal economic freedom. Pretty much >99% of my personal net-worth is tied up in bitcoin. One big reason I've been reluctant to diversify is that I really do need a bit stack of bitcoin for the bankroll (e.g. around this time last year, I lost >400 BTC bitcoin to a very unlucky month). If there's enough investor interest to the point the bankroll is bigger than it needs to be (e.g. players are no longer constrained by the bet limits), I'll feel a lot freer to start taking my own money out.

[JackpotRacer]

Why exactely are you wanting to built in the investment feature? Is the current bankroll not large enough to sustain large bets? Have there been requests for making a higher max bet (I don't know if it exists, but I can imagine so).

I guess it comes down to a few things: Offering bigger bets will definitely be nice, it's pretty commonly requested by whales. The current max-bet is 1 bitcoin, which is pretty small compared to some other sites. But even so, largely because of the low amount of games per day (and everyone playing them at the same time) there's a *lot* of variance: (e.g. I think today I made ~50 BTC, and yesterday lost about the same) you can can see here: https://dicesites.com/bustabit


It'll also help in that investors will have to pay 25% of the expected value, regardless of how the site performs -- so that will also lower my variance considerably.

But probably the biggest reason, is I hope that the invest system makes bustabit itself a more interesting/popular/vibrant community. Giving people the option to share in bustabit's success (even if they only invest $50) I think has the potential to cause the the site significantly. I'm also expecting that I will be the vast-majority investor (I have a huge advantage over other investors: I have no counter-party risk) -- so even if it only achieves a modest increase in the site volume -- I think it'll be a net plus.

And finally, it gives me a lot more personal economic freedom. Pretty much >99% of my personal net-worth is tied up in bitcoin. One big reason I've been reluctant to diversify is that I really do need a bit stack of bitcoin for the bankroll (e.g. around this time last year, I lost >400 BTC bitcoin to a very unlucky month). If there's enough investor interest to the point the bankroll is bigger than it needs to be (e.g. players are no longer constrained by the bet limits), I'll feel a lot freer to start taking my own money out.

I fully understand the reasons and it makes fully sense to invite Investors. may I ask why not an ICO? I am sure your ICO would succeed but I would be interested to understand your reasoning why you decided for Investors to put their coins  direct into the Bank Roll  (I personally like it more that an ICO)

thx

[englishflavor]

I'm hoping it's a percent rebate to all the players that helped donate 2400+ btc to Ryan. cough cough...

[RHavar]

I fully understand the reasons and it makes fully sense to invite Investors. may I ask why not an ICO? I am sure your ICO would succeed but I would be interested to understand your reasoning why you decided for Investors to put their coins  direct into the Bank Roll  (I personally like it more that an ICO)

I guess there's a million ways to structure an ICO, so it's hard to answer that. But I think the "bet on the house" system is fairest for everyone. I'm not really doing anything crazy, so the only thing I need money for is the bankroll. So I think it makes sense to just do that directly, and give people the freedom to enter/exit at will. Also the investor system has a really neat way to lower your counter-party risk by leveraging. So you can say "I want to invest 50 BTC, but I'll only put 10 BTC on site" and it'll risk as if you had 50 BTC (e.g. put it to toward the max-profit) but you get automatically stopped out if you lose 10 BTC. I'm not sure I could possibly reproduce something like that with an ICO.

[RobeinHoodie]

Why exactely are you wanting to built in the investment feature? Is the current bankroll not large enough to sustain large bets? Have there been requests for making a higher max bet (I don't know if it exists, but I can imagine so).

I guess it comes down to a few things: Offering bigger bets will definitely be nice, it's pretty commonly requested by whales. The current max-bet is 1 bitcoin, which is pretty small compared to some other sites. But even so, largely because of the low amount of games per day (and everyone playing them at the same time) there's a *lot* of variance: (e.g. I think today I made ~50 BTC, and yesterday lost about the same) you can can see here: https://dicesites.com/bustabit


It'll also help in that investors will have to pay 25% of the expected value, regardless of how the site performs -- so that will also lower my variance considerably.

But probably the biggest reason, is I hope that the invest system makes bustabit itself a more interesting/popular/vibrant community. Giving people the option to share in bustabit's success (even if they only invest $50) I think has the potential to cause the the site significantly. I'm also expecting that I will be the vast-majority investor (I have a huge advantage over other investors: I have no counter-party risk) -- so even if it only achieves a modest increase in the site volume -- I think it'll be a net plus.

And finally, it gives me a lot more personal economic freedom. Pretty much >99% of my personal net-worth is tied up in bitcoin. One big reason I've been reluctant to diversify is that I really do need a bit stack of bitcoin for the bankroll (e.g. around this time last year, I lost >400 BTC bitcoin to a very unlucky month). If there's enough investor interest to the point the bankroll is bigger than it needs to be (e.g. players are no longer constrained by the bet limits), I'll feel a lot freer to start taking my own money out.

I can understand that, no one should honestly have their entire net in 1 thing, even bitcoin.

What I can't understand is why you don't simply continue to operate the site as is, and then just turn some of your own bitcoin into fiat (or whatever you choose).

You aren't saying that if you don't keep all of your profit from bustabit in bitcoin, that the entire site would cease to exist are you?

It's no secret that you've amassed a fortune over the past few years, one that would put some second string NBA players to shame, heck you probably put the first stringers to shame as well.

How is collecting pittances from the guys who already provide you with that wealth going to help de-risk you? Or is this about more profit with less risk, rather than less profit and less risk?

Thanks.

[equator]

Hi, is the site still actively working or it got closed as i am not able to open the site for the past more then 1 hour, Below isthe message i am receiving it when trying to open the site in Google Chrome and Mozilla Firefox browers

This site can’t be reached

www.bustabit.com’s server DNS address could not be found.
DNS_PROBE_FINISHED_NXDOMAIN

Can anyone confirm that the site is still working or not. as for the past long time i have not used the site and today only i am trying to open as wanted to play some game.

[Josepht]

Hi, is the site still actively working or it got closed as i am not able to open the site for the past more then 1 hour, Below isthe message i am receiving it when trying to open the site in Google Chrome and Mozilla Firefox browers

This site can’t be reached

www.bustabit.com’s server DNS address could not be found.
DNS_PROBE_FINISHED_NXDOMAIN

Can anyone confirm that the site is still working or not. as for the past long time i have not used the site and today only i am trying to open as wanted to play some game.

No problems here. It's most likely on your end.
I have google chrome, and it works just as good as other days.

[jamyr]

Hi, is the site still actively working or it got closed as i am not able to open the site for the past more then 1 hour, Below isthe message i am receiving it when trying to open the site in Google Chrome and Mozilla Firefox browers

This site can’t be reached

www.bustabit.com’s server DNS address could not be found.
DNS_PROBE_FINISHED_NXDOMAIN

Can anyone confirm that the site is still working or not. as for the past long time i have not used the site and today only i am trying to open as wanted to play some game.

No problem here as I tried it in my phone. (I'm based in the Philippines) if that makes a difference.

perhaps, it is an error from your end?

[RHavar]

Hi, is the site still actively working or it got closed as i am not able to open the site for the past more then 1 hour, Below isthe message i am receiving it when trying to open the site in Google Chrome and Mozilla Firefox browers

This site can’t be reached

www.bustabit.com’s server DNS address could not be found.
DNS_PROBE_FINISHED_NXDOMAIN

Can anyone confirm that the site is still working or not. as for the past long time i have not used the site and today only i am trying to open as wanted to play some game.

Weird, where are you located? There's some countries I believe that block bustabit on the DNS level, or could be some intermittent problem. But I don't believe there's been any widespread issue 

[AlphaWolf]

Hi, is the site still actively working or it got closed as i am not able to open the site for the past more then 1 hour, Below isthe message i am receiving it when trying to open the site in Google Chrome and Mozilla Firefox browers

This site can’t be reached

www.bustabit.com’s server DNS address could not be found.
DNS_PROBE_FINISHED_NXDOMAIN

Can anyone confirm that the site is still working or not. as for the past long time i have not used the site and today only i am trying to open as wanted to play some game.

You may be banned?
As site is loading fine.
Fast and smooth loading.