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Author Topic: [SHUTTING DOWN] [DiceBitco.in | BE THE BANK ! | 1% House Edge]  (Read 101395 times)
guizai
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August 07, 2014, 03:53:07 AM
 #221

Damn Doog buddy Sad at least you made some profits and had fun. She went well Smiley

It certainly gave me an insight into how it feels to be on the other side of the dice site. The sense that "it doesn't matter if I lose because this is all profit" was strong.

I'd just like to use this occasion to announce my retirement, undefeated, from the world of video boxing.
  -- Bart Simpson

Seems to be a better move Tongue and remain undefeated
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suchmoon
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August 07, 2014, 04:05:39 AM
 #222

After an amazing run of lucky today, I finally hit the losing streak:

It seems I missed all the fun. So does it mean the site was down something like 30+ BTC at one point, since it's still down 9 BTC even after doog's showdown? I want my 1% dammit.

williamj2543
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August 07, 2014, 04:21:22 AM
 #223

Hey owner of the site, I have one question about your investment feature.
Are the profits paid out once every day based on how much percentage of the total bankroll the user owns?
Because couldn't I just invest a massive amount right before the payout, earn my 90% of profits, and instantly divest?
How would you prevent that?

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Jungian
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August 07, 2014, 04:47:09 AM
 #224

Hey owner of the site, I have one question about your investment feature.
Are the profits paid out once every day based on how much percentage of the total bankroll the user owns?
Because couldn't I just invest a massive amount right before the payout, earn my 90% of profits, and instantly divest?
How would you prevent that?

It's in real time. Wins and losses are straight from the bankroll

I think Monero (XMR) is very interesting.
https://moneroeconomy.com/faq/why-monero-matters
dooglus
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August 07, 2014, 07:01:19 AM
 #225

Hey owner of the site, I have one question about your investment feature.
Are the profits paid out once every day based on how much percentage of the total bankroll the user owns?
Because couldn't I just invest a massive amount right before the payout, earn my 90% of profits, and instantly divest?
How would you prevent that?

You could invest just before I lose 27 BTC, and divest right after. You'd make a nice profit. You just need to be able to predict when it's going to happen.

Ruru did it, only in reverse - he divested shortly before I lost. Smiley

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dooglus
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August 07, 2014, 07:02:25 AM
 #226

It seems I missed all the fun. So does it mean the site was down something like 30+ BTC at one point, since it's still down 9 BTC even after doog's showdown? I want my 1% dammit.

Yes, the site was down around 35 BTC before my losing streak.

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Holdaaja
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August 07, 2014, 07:09:06 AM
 #227

Quote
It seems I missed all the fun. So does it mean the site was down something like 30+ BTC at one point, since it's still down 9 BTC even after doog's showdown? I want my 1% dammit.

Yes, the site was down around 35 BTC before my losing streak.

Hey owner of the site, I have one question about your investment feature.
Are the profits paid out once every day based on how much percentage of the total bankroll the user owns?
Because couldn't I just invest a massive amount right before the payout, earn my 90% of profits, and instantly divest?
How would you prevent that?

You could invest just before I lose 27 BTC, and divest right after. You'd make a nice profit. You just need to be able to predict when it's going to happen.
 
Ruru did it, only in reverse - he divested shortly before I lost. Smiley

Dooglus, why don't you post like that quote, like everyone else does?
It doesn't look messy so there is no reason to do multiple posts in row.
I'm pretty sure if anyone less known user would make multiple posts in row like you do, he would get banned/posts deleted for post padding.

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dooglus
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August 07, 2014, 07:13:47 AM
 #228

Dooglus, why don't you post like that quote, like everyone else does?
It doesn't look messy so there is no reason to do multiple posts in row.
I'm pretty sure if anyone less known user would make multiple posts in row like you do, he would get banned/posts deleted for post padding.

When I see a message I want to reply to, I reply to it.

When I see another, I reply to that, too.

Nobody ever had a problem with it before. I'm sorry if it offends you.

I use 'edit' if I want to change something in an existing post, but for separate ideas I use separate posts, and doubt that is anywhere close to being a bannable offence for anyone.

Edit (you're welcome):

I expect I'll easily exceed the 100 posts per month that the sig campaign pays for, so my "post padding" behaviour isn't gaining me any extra bit-dust.

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Holdaaja
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August 07, 2014, 07:18:53 AM
 #229

Dooglus, why don't you post like that quote, like everyone else does?
It doesn't look messy so there is no reason to do multiple posts in row.
I'm pretty sure if anyone less known user would make multiple posts in row like you do, he would get banned/posts deleted for post padding.

When I see a message I want to reply to, I reply to it.

When I see another, I reply to that, too.

Nobody ever had a problem with it before. I'm sorry if it offends you.

I use 'edit' if I want to change something in an existing post, but for separate ideas I use separate posts, and doubt that is anywhere close to being a bannable offence for anyone.

Time between those posts is about 1 minute...
It sure is allowed without paid sig but it looks like post padding if you have paid sig and mods ban/delete post more easily if user uses paid sig.
But if it isn't post padding I'll start to do it too. Or not coz I'm not well known/respected so I'm going to get banned if I do so...

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August 07, 2014, 07:40:31 AM
 #230

Nice site.  Ever since the closure of Just-Dice I've been looking for a place to invest.
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August 07, 2014, 02:47:59 PM
 #231

When I see a message I want to reply to, I reply to it.

When I see another, I reply to that, too.

Nobody ever had a problem with it before. I'm sorry if it offends you.

I use 'edit' if I want to change something in an existing post, but for separate ideas I use separate posts, and doubt that is anywhere close to being a bannable offence for anyone.

Edit (you're welcome):

I expect I'll easily exceed the 100 posts per month that the sig campaign pays for, so my "post padding" behaviour isn't gaining me any extra bit-dust.
I believe that the signature campaign pays for 400 posts per month, if I am not mistaken. Wink

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August 07, 2014, 04:46:14 PM
 #232

When I see a message I want to reply to, I reply to it.

When I see another, I reply to that, too.

Nobody ever had a problem with it before. I'm sorry if it offends you.

I use 'edit' if I want to change something in an existing post, but for separate ideas I use separate posts, and doubt that is anywhere close to being a bannable offence for anyone.

Edit (you're welcome):

I expect I'll easily exceed the 100 posts per month that the sig campaign pays for, so my "post padding" behaviour isn't gaining me any extra bit-dust.
I believe that the signature campaign pays for 400 posts per month, if I am not mistaken. Wink

Yep... DiceBitcoin Sig campaign pays for 400 posts per month. But that really does not matter to Dooglus as I understand. Even he is not paid it does not matter to him. I think he has more coins from Just-Dice than the current bankroll of DiceBitcoin. He is probably wearing the sig because he has invested a lot in DiceBitcoin.

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August 07, 2014, 06:04:39 PM
 #233

Yep... DiceBitcoin Sig campaign pays for 400 posts per month. But that really does not matter to Dooglus as I understand. Even he is not paid it does not matter to him. I think he has more coins from Just-Dice than the current bankroll of DiceBitcoin. He is probably wearing the sig because he has invested a lot in DiceBitcoin.

Oh, for some reason I was thinking it was 100. I probably won't make 400 posts per month since I'm only at 5k posts after 3 years.

I've not changed my posting style since signing up for the signature campaign, and won't. I can't imagine that a posting style that was acceptable for the last 3 years suddenly becomes unacceptable because I'm getting paid to advertise a website - what sense would that make?

I currently have 60 BTC invested in DiceBitco.in.  I use their sig because the one I was using before (Just-Dice) had outlived its usefulness, and I like DiceBitco.in and feel they should get more attention.

People keep asking where to play and invest now that JD has gone, and I didn't know what to tell them. I was having a hard time finding a decent replacement until I discovered DiceBitco.in, and so now I link to them in my signature.

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August 07, 2014, 06:16:16 PM
 #234

Yep... DiceBitcoin Sig campaign pays for 400 posts per month. But that really does not matter to Dooglus as I understand. Even he is not paid it does not matter to him. I think he has more coins from Just-Dice than the current bankroll of DiceBitcoin. He is probably wearing the sig because he has invested a lot in DiceBitcoin.

Oh, for some reason I was thinking it was 100. I probably won't make 400 posts per month since I'm only at 5k posts after 3 years.

I've not changed my posting style since signing up for the signature campaign, and won't. I can't imagine that a posting style that was acceptable for the last 3 years suddenly becomes unacceptable because I'm getting paid to advertise a website - what sense would that make?

I currently have 60 BTC invested in DiceBitco.in.  I use their sig because the one I was using before (Just-Dice) had outlived its usefulness, and I like DiceBitco.in and feel they should get more attention.

People keep asking where to play and invest now that JD has gone, and I didn't know what to tell them. I was having a hard time finding a decent replacement until I discovered DiceBitco.in, and so now I link to them in my signature.

Okies Dooglus ... can u please tell me how it was handled in Just-Dice or done in DiceBitcoin ?

When an user wins where goes the house edge ? Does it go to the site owner or to the bankroll ?

I dint get the explanation here => https://dicebitco.in/about/investments

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August 07, 2014, 06:18:49 PM
 #235

Yep... DiceBitcoin Sig campaign pays for 400 posts per month. But that really does not matter to Dooglus as I understand. Even he is not paid it does not matter to him. I think he has more coins from Just-Dice than the current bankroll of DiceBitcoin. He is probably wearing the sig because he has invested a lot in DiceBitcoin.

Oh, for some reason I was thinking it was 100. I probably won't make 400 posts per month since I'm only at 5k posts after 3 years.

I've not changed my posting style since signing up for the signature campaign, and won't. I can't imagine that a posting style that was acceptable for the last 3 years suddenly becomes unacceptable because I'm getting paid to advertise a website - what sense would that make?

I currently have 60 BTC invested in DiceBitco.in.  I use their sig because the one I was using before (Just-Dice) had outlived its usefulness, and I like DiceBitco.in and feel they should get more attention.

People keep asking where to play and invest now that JD has gone, and I didn't know what to tell them. I was having a hard time finding a decent replacement until I discovered DiceBitco.in, and so now I link to them in my signature.

Okies Dooglus ... can u please tell me how it was handled in Just-Dice or done in DiceBitcoin ?

When an user wins where goes the house edge ? Does it go to the site owner or to the bankroll ?

I dint get the explanation here => https://dicebitco.in/about/investments

House edge isn't fee or something like that.
It means there with 2x multiplier with 0% house edge you would have 50% winning possibility and casino would have 50% too but with 1% house edge you have 49.5% possibility to win and casino has more than 50%

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August 07, 2014, 06:19:58 PM
 #236

It's the same model as Just-dice from what I can see. I haven't invested yet myself, I want to see the site bed in for a while and see how it goes before investing. So far so good..
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August 07, 2014, 06:34:49 PM
 #237

Okies Dooglus ... can u please tell me how it was handled in Just-Dice or done in DiceBitcoin ?

When an user wins where goes the house edge ? Does it go to the site owner or to the bankroll ?

I dint get the explanation here => https://dicebitco.in/about/investments

You're a little confused I think.

First off, the "house edge" isn't an amount of coins, and so it doesn't "go" anywhere.

Both Just-Dice and DiceBitco.in have a 1% house edge. That means that the payouts are set such that in the very long run the site expects to win 1% of everything the players bet. Basically the percentage chance of winning a bet multiplied by the payout multiplier is 99.

The 2x bet has a 49.5% chance of winning (2 times 49.5 is 99)
The 10x bet has a 9.9% chance of winning (10 times 9.9 is 99)
The 1.1x bet has a 90% chance of winning (1.1 times 90 is 99)

And so on.

So the chances of winning are 1% smaller than "they should be" - a game with no house edge would give you a 50% chance of winning a bet to double your money, not a 49.5% chance.

Because of that, the house expects to make a profit over time. Sometimes they'll win more than 1% of the amount bet, sometimes they'll win less (or even lose).

Any profits they do make get split up between all the people providing the bankroll ("the investors") in proportion to the size of their investment.

For example, the owners of the site have put 200 BTC into the bankroll, I have put 60 BTC in, and a whole bunch of other people have put in other amounts. Suppose the entire bankroll is 1000 BTC (to make the math easy).

My 60 BTC is then exactly 6% of the bankroll, and the owners' 200 BTC is 20% of it.

Then, if someone deposits 1 BTC onto the site, bets, and loses it, that 1 BTC gets split up to all the investors.

I get 6% of it - that's 0.06 BTC. The owners get 20% of it, or 0.2 BTC, and so on.

If someone else deposits 1 BTC and wins 2 BTC, that 2 BTC is paid by all the investors. I pay 6% of it (that's 0.12 BTC) and so on.

Does that make sense now?

Is there something in particular on https://dicebitco.in/about/investments that didn't make sense to you? If so, what bit?

Also, take a look on Just-Dice.com - click the 'invest' tab and read the explanation there. Is that clearer? Is there a part that makes it clear to you that you were missing before?

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August 07, 2014, 06:58:48 PM
 #238


My 60 BTC is then exactly 6% of the bankroll, and the owners' 200 BTC is 20% of it.

Then, if someone deposits 1 BTC onto the site, bets, and loses it, that 1 BTC gets split up to all the investors.

I get 6% of it - that's 0.06 BTC. The owners get 20% of it, or 0.2 BTC, and so on.


if dicebitco.in works similar like just-dice I think your math is wrong, because there is a 10 % fee on investment profits.
(probably in order to pay for hosting, security and so on)



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August 07, 2014, 07:15:54 PM
 #239


My 60 BTC is then exactly 6% of the bankroll, and the owners' 200 BTC is 20% of it.

Then, if someone deposits 1 BTC onto the site, bets, and loses it, that 1 BTC gets split up to all the investors.

I get 6% of it - that's 0.06 BTC. The owners get 20% of it, or 0.2 BTC, and so on.


if dicebitco.in works similar like just-dice I think your math is wrong, because there is a 10 % fee on investment profits.
(probably in order to pay for hosting, security and so on)





Nothing wrong with those maths.
But when investor divest some of his profit 10% of it will go to site owner.
And JD took 10% too so there is no difference.

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dooglus
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August 07, 2014, 07:34:54 PM
 #240

if dicebitco.in works similar like just-dice I think your math is wrong, because there is a 10 % fee on investment profits.
(probably in order to pay for hosting, security and so on)

I forgot to mention commission, you're right.

Everything I wrote is true, BUT at the end of each week the site takes 10% of any new net investment profits from you.

As I understand it, DB works exactly the same as JD in that respect - if you lose one week and win it back the next week, you don't pay any commission on the part that recovered your losses, etc.

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