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Author Topic: [SHUTTING DOWN] [DiceBitco.in | BE THE BANK ! | 1% House Edge]  (Read 101386 times)
dooglus
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August 22, 2014, 04:57:23 PM
 #561

I'm not trying to accuse dicebitco of anything as they are possibly legitimate, but in my opinion pretty much every major scam in bitcoin has occurred when the amount at stake becomes greater than the reputation. Can anyone firmly argue that dicebitco.in has proven themselves trustworthy to handle well over $2M in bitcoin, I don't think anyone would agree with that if weighing the facts alone. The only facts we have is that they ran a litecoin gambling site which had relative success but pales in comparison to the current site they are running and also the fact that dooglus has a small amount invested.  

While it's probably true that they didn't prove themselves trustworthy with such a sum, how could they? Presumably only by previously having had such a sum, and returned it. To build trust, you have to be trusted beyond the point you have previously been trusted, and show that such trust was well founded.

When I started running Just-Dice, all people knew about me was that I had been posting stats about SatoshiDice for a year or so on a daily basis (which presumably says more about my mental health than my trustworthiness, since it didn't involve me holding any coins at all) and that I had refunded something like 1700 BTC (worth ~$5 to ~$100 each) from a failed exchange when I could have just kept the coins. So I had shown myself to be trustworthy for around $170k worth of BTC.

Within a week of running Just-Dice people had thrown way more than that at me, hence my doubt about why people were trusting me so much. At the peak I was holding over 50 million dollars' worth of other people's coins. There's no way I had proven that I was trustworthy enough for such a sum (other than by not running at 10, 20, 30, or 40 million dollars worth - but the running joke was always "he's wanting for (n+1) million before he buys his island").

The way I see it, investing in dice sites is a risky business, and everyone needs to take all the risks into account when deciding whether to get involved:

* the house may legitimately lose coins to a big player
* the house may play against them selves and cheat to win investor coins
* the house may just shut down and run off with the coins

The first of these is at least quantifiable using math. The other two are big unknowns (unless you are the house) and so that's where the real risk comes in.

I do have some doubts with this site as I did with Everydice.

Did you see this post? Apparently they're refunding investors:

https://bitcointalk.org/index.php?topic=476334.msg8451076#msg8451076

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dooglus
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August 22, 2014, 04:59:52 PM
 #562

sites' profit up to 25btcs!

You saw that Stunna is onto you and decided to lose a little back to the investors to keep them happy? Wink

I saw your "dooglus" account lost a bunch yesterday too, but your "akcoinminer" account won all the profits back.

Hint: I'm joking.

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August 22, 2014, 06:21:43 PM
 #563

Hi OP,

It looks like there is some security problem with the site. Today i visited the URL and it had logged me into a different account which had set the password off and also set the 2FA off. Whenever i clicked logout, it would login with a different account. Not sure what the issue is, but i think there is some security risk involved. Worst of all is, i was unable to get into my legit account. Not sure what is going on!

[banner]https://static1.freebitco.in/banners/contest_728_90.gif[/banner]
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August 22, 2014, 06:24:00 PM
 #564

I've dealt with the owners of dicebitcoin for 6 months now with advertising and what not.



and ii have to say they are one of the few people i trust.


I think dicebitcoin will be the leader in bitcoin dice and will have $10 million invested soon.


I wonder how much primedice profit is? we will never know....
MICRO
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August 22, 2014, 06:29:56 PM
 #565

I've dealt with the owners of dicebitcoin for 6 months now with advertising and what not.



and ii have to say they are one of the few people i trust.


I think dicebitcoin will be the leader in bitcoin dice and will have $10 million invested soon.


I wonder how much primedice profit is? we will never know....

True , coz primedice doesn't take its players money to run the bankroll. Same as all live casinos and most online casios doesn't .

Do u know bankroll and profit of  any live or online casino where house owns the bankroll ? U don't.

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Jungian
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August 22, 2014, 06:34:37 PM
 #566

I've dealt with the owners of dicebitcoin for 6 months now with advertising and what not.



and ii have to say they are one of the few people i trust.


I think dicebitcoin will be the leader in bitcoin dice and will have $10 million invested soon.


I wonder how much primedice profit is? we will never know....

True , coz primedice doesn't take its players money to run the bankroll. Same as all live casinos and most online casios doesn't .

Do u know bankroll and profit of  any live or online casino where house owns the bankroll ? U don't.

You don't? At least some casinos sure report their earings like any company.

I think Monero (XMR) is very interesting.
https://moneroeconomy.com/faq/why-monero-matters
suchmoon
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August 22, 2014, 06:34:58 PM
 #567

Hi OP,

It looks like there is some security problem with the site. Today i visited the URL and it had logged me into a different account which had set the password off and also set the 2FA off. Whenever i clicked logout, it would login with a different account. Not sure what the issue is, but i think there is some security risk involved. Worst of all is, i was unable to get into my legit account. Not sure what is going on!

If you open the site without logging in it will generate a new user account, without password or 2FA. It looks like that's what happened, so that part is normal.

What exactly is the problem with your legit account?

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August 22, 2014, 06:36:20 PM
 #568

I'm not trying to accuse dicebitco of anything as they are possibly legitimate, but in my opinion pretty much every major scam in bitcoin has occurred when the amount at stake becomes greater than the reputation. Can anyone firmly argue that dicebitco.in has proven themselves trustworthy to handle well over $2M in bitcoin, I don't think anyone would agree with that if weighing the facts alone. The only facts we have is that they ran a litecoin gambling site which had relative success but pales in comparison to the current site they are running and also the fact that dooglus has a small amount invested.  

While it's probably true that they didn't prove themselves trustworthy with such a sum, how could they? Presumably only by previously having had such a sum, and returned it. To build trust, you have to be trusted beyond the point you have previously been trusted, and show that such trust was well founded.

When I started running Just-Dice, all people knew about me was that I had been posting stats about SatoshiDice for a year or so on a daily basis (which presumably says more about my mental health than my trustworthiness, since it didn't involve me holding any coins at all) and that I had refunded something like 1700 BTC (worth ~$5 to ~$100 each) from a failed exchange when I could have just kept the coins. So I had shown myself to be trustworthy for around $170k worth of BTC.

Within a week of running Just-Dice people had thrown way more than that at me, hence my doubt about why people were trusting me so much. At the peak I was holding over 50 million dollars' worth of other people's coins. There's no way I had proven that I was trustworthy enough for such a sum (other than by not running at 10, 20, 30, or 40 million dollars worth - but the running joke was always "he's wanting for (n+1) million before he buys his island").

The way I see it, investing in dice sites is a risky business, and everyone needs to take all the risks into account when deciding whether to get involved:

* the house may legitimately lose coins to a big player
* the house may play against them selves and cheat to win investor coins
* the house may just shut down and run off with the coins

The first of these is at least quantifiable using math. The other two are big unknowns (unless you are the house) and so that's where the real risk comes in.

I do have some doubts with this site as I did with Everydice.

Did you see this post? Apparently they're refunding investors:

https://bitcointalk.org/index.php?topic=476334.msg8451076#msg8451076


Fair enough, I don't see why they wouldn't agree to at least multisig the investments though when you kindly offered. If I was in their position I would have done that without hesitation as it would have been a major boost to investments.

I guess I understand that they are hoping to stand on their own, hopefully this will end well.



I've dealt with the owners of dicebitcoin for 6 months now with advertising and what not.



and ii have to say they are one of the few people i trust.


I think dicebitcoin will be the leader in bitcoin dice and will have $10 million invested soon.


I wonder how much primedice profit is? we will never know....

It isn't really important for private companies to disclose their profit, if someone was so inclined they could probably find my coins.

Also, the issue isn't that they are untrustworthy. I had never made that claim I was rather just bringing light to the fact that maybe it is a bit risky to be trusting new forum members with $2M+. I'm sure you trust them but would you trust them personally with $2M of your own money? I've known people in real life for many years who I'd have trouble trusting with that amount of money.

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August 22, 2014, 06:41:00 PM
 #569


Fair enough, I don't see why they wouldn't agree to at least multisig the investments though when you kindly offered. If I was in their position I would have done that without hesitation as it would have been a major boost to investments.

I guess I understand that they are hoping to stand on their own, hopefully this will end well.

I'm thinking the same. It would just put a whole level of trust that would take years to earn. If possible to earn at all. I don't really see how it takes away anything from their own credibility.

I really hope the site owners reconsider.

I think Monero (XMR) is very interesting.
https://moneroeconomy.com/faq/why-monero-matters
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August 22, 2014, 07:09:12 PM
 #570

I think the trust issue/topic should close. Time will tell.  Smiley

And:

tl;dr Bitcoin investments are gambling and often don't end well, risk what you are willing to lose

+999


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omahapoker
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August 22, 2014, 09:24:37 PM
 #571




I've dealt with the owners of dicebitcoin for 6 months now with advertising and what not.



and ii have to say they are one of the few people i trust.


I think dicebitcoin will be the leader in bitcoin dice and will have $10 million invested soon.


I wonder how much primedice profit is? we will never know....

It isn't really important for private companies to disclose their profit, if someone was so inclined they could probably find my coins.

Also, the issue isn't that they are untrustworthy. I had never made that claim I was rather just bringing light to the fact that maybe it is a bit risky to be trusting new forum members with $2M+. I'm sure you trust them but would you trust them personally with $2M of your own money? I've known people in real life for many years who I'd have trouble trusting with that amount of money.
[/quote]


I agree. everything is a risk and doing research is key. if i had 2 million i would trust no one or site with it. but $2,000-$5,000 not so worried


for the record i love primedice and dicebitcoin


stunna, i've learned a lot from you last 9 months. thank you
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August 22, 2014, 10:35:27 PM
 #572

Multisig for Dooglus

Get it done so this site can explode even more please.
waterpile
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August 22, 2014, 10:57:40 PM
 #573

Investment is rising but the profit well its not
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August 22, 2014, 11:03:40 PM
 #574

Multisig for Dooglus

Get it done so this site can explode even more please.

I don't think multisig alone really helps.

I wouldn't increase the amount I was prepared to invest if the cold wallet was completely secure and in trusted hands because as Stunna points out there's still the possibility of the site stealing by using the server seeds.

One weak link in a chain is just as bad as two weak links - you only need one to break and the chain is useless; I guess you either replace both weak links or neither - there's no point fixing just one.

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August 23, 2014, 01:32:08 AM
 #575

The site looks good and runs smooth. Only downside is there is no faucet. The investing feature is a plus though

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August 23, 2014, 03:59:34 AM
 #576

Hi OP,

It looks like there is some security problem with the site. Today i visited the URL and it had logged me into a different account which had set the password off and also set the 2FA off. Whenever i clicked logout, it would login with a different account. Not sure what the issue is, but i think there is some security risk involved. Worst of all is, i was unable to get into my legit account. Not sure what is going on!

If you open the site without logging in it will generate a new user account, without password or 2FA. It looks like that's what happened, so that part is normal.

What exactly is the problem with your legit account?

Hi Suchmoon,

Thanks for the reply, yup i kinda figured that out now. It opens a new account with a random user name. I thought i was logging in to some legit user accounts because they had not setup a password! Can't blame me for being paranoid about the security!

I tried logging into my legit account and was able to get through on the 5th or 6th attempt, which was quite surprising as i was using the same password and 2FA on all attempts! Anyways, all is good now, save for the fact that my investment is taking a beating Sad.
Wish there was a way i could control that! Grin

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August 23, 2014, 05:12:14 AM
 #577

[...] save for the fact that my investment is taking a beating Sad.
Wish there was a way i could control that! Grin

But there is - "divest all", gamble, win, "invest all".

OK, so it's not perfect control (the "win" step is the tricky one), but at least it's not as passive as staying invested in these troubled times. Smiley

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August 23, 2014, 05:32:30 AM
 #578

hello op
where is history of profit for all Investor per week ?
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August 23, 2014, 05:50:25 AM
 #579

hello op
where is history of profit for all Investor per week ?

Does this help?

http://privatepaste.com/e01a02525c

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August 23, 2014, 06:22:11 AM
 #580

hello op
where is history of profit for all Investor per week ?

Does this help?

http://privatepaste.com/e01a02525c

thanks doog,but this list not so helpful.
is it have the list like this "https://just-dice.com/wagered.txt" from the site,not form user.
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