[SHUTTING DOWN] [DiceBitco.in | BE THE BANK ! | 1% House Edge]

[toleng]

I have dopsit 0:01 if there is a bonus for the it
User id toleng

[AuroraHF]

With over 200 BTC bank roll, there's no doubt this won't simply run away with 1 or 2 BTC. Good luck to your site, any intentions of starting a signature campaign to start things off?

Thats in our immediate plans! Still working on the latest details of how exactly we'll run it, most probably tomorrow we'll end up with a plan

I'll send you a PM, I would love to help you out.

By helping him run away with the funds?  . Nice site OP, glad to see a site with both an invest feature and autobwt feature, you don't get much of those around here.

With the signature campaign actually, haha.

[Challisto]

Your house edge is 1% and you're using a Kelly of 2%, seems dangerous.

[Rora]

Would you be so kind as to explain Kelly in layman's terms?

[Shallow]

I'm glad to see more coins fill in the void left by just dice! I have a few comments and feedback:

1 - I like the clean design, it is flat but professional.

2 - You shouldn't have a register / login window when people first come on the site, we really just want to take a look around before deciding if we want to invest time into registering. You should make it more obvious that you can simply 'continue to site'

3 - What are your security policies? I see you have HTTPS, but do you use cold storage wallets? How did you generate the cold storage wallets? Can you prove the bankroll has 200 BTC, by signing a message from an address containing the BTC?

I hope this post helps you

[DiceBitcoin]

Shallow thanks for the feedback. We have added this register / login window for users in order to understand that we automatically create an account for them (some users got confused when we first implemented this on diceliteco.in). Nevertheless you are more than right that we must highlight that one can simply Continue to Site without adding any of the displayed info. Noted, and we will do smth about it soon.

As far as the process of storing bitcoins we are really strict. We use an offline cold storage wallet for storing the deposited bitcoins and we only keep a small fraction on the server's 'hot' wallet in order to have instant small cashouts. Actually we just added this part in the FAQ page: https://dicebitco.in/faq :

Are my coins safe?

Yes. The majority of the deposited bitcoins are in offline cold storage. The server's hot wallet holds only a small fraction of those bitcoins in order to perform small cashouts instantly. The cold storage address is: 19tQNCrmaW6EADfJrtBaRixRkPyVrvb6yk and we can prove that this address belongs to us:

bitcoind verifymessage 19tQNCrmaW6EADfJrtBaRixRkPyVrvb6yk \
  IDmnB3OxsE/vXBmEj5lglSQOHFooEUNjt6UhPMhOA7nbcv0C9ozKQKQmaVXf+pDI/2AGq/Ac1L6kBSmyWEKKH14= \
  "This address is for cold storage only and is owned by DiceBitco.in."


Thanks again for the feedback!

[Challisto]

Would you be so kind as to explain Kelly in layman's terms?

Kelly is a math formula used to determine the optimum bet size. It will, in theory, find the best risk/reward ratio.

Since the house has an edge it will always win more than it loses, but in short term there will be variance. In order to protect the bankroll from this variance only a percentage of the bankroll should be allowed to be risked on each roll. How much to risk on each roll is calculated by the Kelly formula.

For a dice game the formula is really simple:

Code:

f*=p-q

Where p = probability of winning and q = probability of losing.

When someone places a <49.5% bet the house takes the opposite bet >49.5%. The houses probability of winning is 50.5% on this bet.

Code:

.505 - .495 = .01

The Kelly value is 1% which is equal to the house edge. In theory a max bet of 1% should be the best risk/reward ratio but in practice, as Just-Dice demonstrated, it is still really risky and should be set to less than 1%.

[AuroraHF]

I have sent you the things that you wanted, let's get this started. 

[DiceBitcoin]

Our signature campaign is now live! Check it out here

https://bitcointalk.org/index.php?topic=717300.0

[FFrost]

Nice site. Any giveaways or faucet in the near future?

[Joca97]

Nice site. Any giveaways or faucet in the near future?

i think currently everybody is waiting for this giveaway

so we can test the site...

and yesterday admin said that they will give the giveaway today but i dont see anything

[restu001]

Nice site. Any giveaways or faucet in the near future?

i think currently everybody is waiting for this giveaway

so we can test the site...

and yesterday admin said that they will give the giveaway today but i dont see anything

yeah me too waiting for the giveaway

[BitBerau]

@DiceBitcoin, becarefull many zombie giveaways in here 
lets play again.. 

[john1975p]

lovely site, I really enjoyed it.

You don't need to give free coins for test.

anyone can easily test site with minimum deposit.

[schnebi]

seems really fine. Except that I get a "Can't establish" connection from time to time. You need to tune yoour stability. Perhaps you should also use cloudflare to prevent DDoS

[Holdaaja]

I just made my first deposit
I'm surely going to invest asap after it gets confirmed.
Haven't invested any casino after ED and finally I have found some good place to invest.

[DiceBitcoin]

Giveaway for 100 VOUCHERS is active! More details here!! -->  https://bitcointalk.org/index.php?topic=717525.new#new 


Hurry up

[BitBerau]

Maximum allowed number of withdraws reached. Please wait for 20 minutes. 

[DiceBitcoin]

Maximum allowed number of withdraws reached. Please wait for 20 minutes. 

Did you spam the withdraw button by any chance? We have several anti-spamming filters to prevent bad things from happening. What is your username @ site so i can have a look?

[suchmoon]

Finally a place to invest the few satoshis that have been burning a hole in my pocket since JD closed down 

You might want to rethink the 2% max bet though. I'm sure there is a whale sharpening his/her martingales as we speak.