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

[Holdaaja]

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.

In BD there is no weekly commission.
They took 10% only when investor divests.
But yeah it is same thing I guess.

[m19]

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.

In BD there is no weekly commission.
They took 10% only when investor divests.
But yeah it is same thing I guess.

Actually there is:

You can invest and divest anytime you want. We charge the commission only when profits are divested, or at Sunday each week at 00:00 UTC. When we divest profits at Sunday each week we automatically re-invest the amount (minus commissions). You can change this at your account settings page.

[DiceBitcoin]

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.

^ This. We work with the exact model, like JD. And yes, the commision is weekly IF any net profits, OR when you manually divest IF there are any NEW net profits! (exactly as JD operated)

Also, why everyone is calling us BD? Shouldnt be DB? (DiceBitco.in??)

[dooglus]

Also, why everyone is calling us BD? Shouldnt be DB? (DiceBitco.in??)

Maybe because your title tags on the site say "Bitcoin dice"...

[BitCoinDream]

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?

Thank U. Got my point. I had a misconception that house edge is a commision on a player's win.

So, the house makes money only from investment profit commission and no other way ?

[dooglus]

So, the house makes money only from investment profit commission and no other way ?

Well, the house is also invested (to the tune of 200 BTC, apparently) and so they make profit that way too. Or would, if the players would stop winning!

[RoooooR]

Nice design and domain. Good luck.


What I wonder is why are you (Dooglus) advertising this site? You already have the biggest Dice game site. I don't have harm intent.

[Holdaaja]

Nice design and domain. Good luck.


What I wonder is why are you (Dooglus) advertising this site? You already have the biggest Dice game site. I don't have harm intent.

His casino is close if you didn't notice that yet.

[RoooooR]

Nice design and domain. Good luck.


What I wonder is why are you (Dooglus) advertising this site? You already have the biggest Dice game site. I don't have harm intent.

His casino is close if you didn't notice that yet.

I noticed it now Thanks.

[Godye Scaro X9]

So now that dooglus is recommending Dicebitco.in (both in his sig and by directly investing himself), it seems that this might become the ultimate successor to the great JD.

[dooglus]

So now that dooglus is recommending Dicebitco.in (both in his sig and by directly investing himself), it seems that this might become the ultimate successor to the great JD.

Please note that I am not affiliated in any way with DiceBitco.in other than as a player, investor, and signature campaigner!

I've seen talk on another dice site speculating that I own the site. That isn't true at all, sorry.

I'm curious whether anyone can help me understand the logic of the argument. Any idea what is meant by "second statment" here and how it somehow implies that the majority of DiceBitco.in's investment came from me?

18:17: dooglus: I don't want to run a dice site - I don't want the hassle of customer support, web design, regulation, etc.
18:17: KLYE: Then outsource. -_-
18:17: wanton: with all the money you make, you could hire people
18:17: dooglus: outsource what?
18:18: wanton: customer support
18:18: KLYE: JD had weeks it didn't make shit
18:18: wanton: web design
18:18: dooglus: you can't outsource trust - and that's my main selling point
18:18: KLYE: The customer service man.
18:18: arrogant: involves a lot of trust
18:18: arrogant: yeah
18:18: KLYE: Sure you can
18:18: dooglus: you need to trust CSRs
18:18: KLYE: People trust a brand
18:18: KLYE: You buy a brand because you trust it
18:18: dooglus: I think people are smart enough to know that brands aren't trustworthy
18:18: Dean Nolan: am I reading all this right?
18:18: melds39: why didn't you keep it open and try to sell it?
18:18: dooglus: only people are trustworthy
18:18: melds39: thats dumb
18:18: BazzaBot: Congrats! @arro has just received 0.0001BTC.
18:19: arrogant: Riiiged
18:19: Dean Nolan: so dice whatever it's called clearly has the surge in investment because doog has been putting it in
18:19: dooglus: "clearly"? is there any reasoning behind that?
18:19: arrogant: does that bother you?
18:19: Dean Nolan: yes
18:19: Dean Nolan: read the second statment
18:19: Dean Nolan: no arro
18:20: arrogant: oh ok
18:20: dooglus: second? where do I count from?
18:20: Dean Nolan: 1 and then 2, thought you'd be good at maths
18:21: melds39: oooooooooooooooooooooooooooooooo
18:21: dooglus: I maybe missed some lines. I didn't see a 1 or a 2
18:21: Dean Nolan: well you are known to cut chat messages out
18:21: melds39: OooOOooOOooooOOOOo
18:21: dooglus: I sometimes edit for length and clarity, yes
18:22: wanton: dooglus, please satisfy all of our curiosity and give us an unequivocal statement
18:22: wanton: re investment and/or ownership
18:22: Dean Nolan: to try and make yourself look good which never worked? Yeah brilliant
18:22: dooglus: like in the log of you evading all my questions about my withdrawal request, I edited out the lines from the bot
18:22: melds39: lol
18:22: dooglus: wanton: what do you want to know?
18:22: Dean Nolan: see above, see my btctalk reply
18:22: chazley: its gettin hot in heeeeeere
18:22: wanton: 1. do you have any ownership interest in that dicebitco.in site
18:22: Dean Nolan: doog your embarrassing yourself
18:22: wanton: 2. do you have money invested there
18:22: dooglus: I don't have any relationship with dicebitco.in other than as a player (profit: 10 BTC) and investor (60 BTC, profit negative)
18:22: dooglus: is that clear enough?
18:23: wanton: crystal
18:23: KLYE: Darn. :/
18:23: KLYE: I was hoping you had a new site.
18:23: arrogant: Dean I think you have that a bit backwards

[Holdaaja]

So now that dooglus is recommending Dicebitco.in (both in his sig and by directly investing himself), it seems that this might become the ultimate successor to the great JD.

Please note that I am not affiliated in any way with DiceBitco.in other than as a player, investor, and signature campaigner!

I've seen talk on another dice site speculating that I own the site. That isn't true at all, sorry.

I'm curious whether anyone can help me understand the logic of the argument. Any idea what is meant by "second statment" here and how it somehow implies that the majority of DiceBitco.in's investment came from me?

18:17: dooglus: I don't want to run a dice site - I don't want the hassle of customer support, web design, regulation, etc.
18:17: KLYE: Then outsource. -_-
18:17: wanton: with all the money you make, you could hire people
18:17: dooglus: outsource what?
18:18: wanton: customer support
18:18: KLYE: JD had weeks it didn't make shit
18:18: wanton: web design
18:18: dooglus: you can't outsource trust - and that's my main selling point
18:18: KLYE: The customer service man.
18:18: arrogant: involves a lot of trust
18:18: arrogant: yeah
18:18: KLYE: Sure you can
18:18: dooglus: you need to trust CSRs
18:18: KLYE: People trust a brand
18:18: KLYE: You buy a brand because you trust it
18:18: dooglus: I think people are smart enough to know that brands aren't trustworthy
18:18: Dean Nolan: am I reading all this right?
18:18: melds39: why didn't you keep it open and try to sell it?
18:18: dooglus: only people are trustworthy
18:18: melds39: thats dumb
18:18: BazzaBot: Congrats! @arro has just received 0.0001BTC.
18:19: arrogant: Riiiged
18:19: Dean Nolan: so dice whatever it's called clearly has the surge in investment because doog has been putting it in
18:19: dooglus: "clearly"? is there any reasoning behind that?
18:19: arrogant: does that bother you?
18:19: Dean Nolan: yes
18:19: Dean Nolan: read the second statment
18:19: Dean Nolan: no arro
18:20: arrogant: oh ok
18:20: dooglus: second? where do I count from?
18:20: Dean Nolan: 1 and then 2, thought you'd be good at maths
18:21: melds39: oooooooooooooooooooooooooooooooo
18:21: dooglus: I maybe missed some lines. I didn't see a 1 or a 2
18:21: Dean Nolan: well you are known to cut chat messages out
18:21: melds39: OooOOooOOooooOOOOo
18:21: dooglus: I sometimes edit for length and clarity, yes
18:22: wanton: dooglus, please satisfy all of our curiosity and give us an unequivocal statement
18:22: wanton: re investment and/or ownership
18:22: Dean Nolan: to try and make yourself look good which never worked? Yeah brilliant
18:22: dooglus: like in the log of you evading all my questions about my withdrawal request, I edited out the lines from the bot
18:22: melds39: lol
18:22: dooglus: wanton: what do you want to know?
18:22: Dean Nolan: see above, see my btctalk reply
18:22: chazley: its gettin hot in heeeeeere
18:22: wanton: 1. do you have any ownership interest in that dicebitco.in site
18:22: Dean Nolan: doog your embarrassing yourself
18:22: wanton: 2. do you have money invested there
18:22: dooglus: I don't have any relationship with dicebitco.in other than as a player (profit: 10 BTC) and investor (60 BTC, profit negative)
18:22: dooglus: is that clear enough?
18:23: wanton: crystal
18:23: KLYE: Darn. :/
18:23: KLYE: I was hoping you had a new site.
18:23: arrogant: Dean I think you have that a bit backwards

I don't think people think most of investment came from you.
But some people might think most of people have invested because of you are using this site.
And that probably is true too at least partly.

[BitCoinDream]

So now that dooglus is recommending Dicebitco.in (both in his sig and by directly investing himself), it seems that this might become the ultimate successor to the great JD.

Please note that I am not affiliated in any way with DiceBitco.in other than as a player, investor, and signature campaigner!

I've seen talk on another dice site speculating that I own the site. That isn't true at all, sorry.

I'm curious whether anyone can help me understand the logic of the argument. Any idea what is meant by "second statment" here and how it somehow implies that the majority of DiceBitco.in's investment came from me?

18:17: dooglus: I don't want to run a dice site - I don't want the hassle of customer support, web design, regulation, etc.
18:17: KLYE: Then outsource. -_-
18:17: wanton: with all the money you make, you could hire people
18:17: dooglus: outsource what?
18:18: wanton: customer support
18:18: KLYE: JD had weeks it didn't make shit
18:18: wanton: web design
18:18: dooglus: you can't outsource trust - and that's my main selling point
18:18: KLYE: The customer service man.
18:18: arrogant: involves a lot of trust
18:18: arrogant: yeah
18:18: KLYE: Sure you can
18:18: dooglus: you need to trust CSRs
18:18: KLYE: People trust a brand
18:18: KLYE: You buy a brand because you trust it
18:18: dooglus: I think people are smart enough to know that brands aren't trustworthy
18:18: Dean Nolan: am I reading all this right?
18:18: melds39: why didn't you keep it open and try to sell it?
18:18: dooglus: only people are trustworthy
18:18: melds39: thats dumb
18:18: BazzaBot: Congrats! @arro has just received 0.0001BTC.
18:19: arrogant: Riiiged
18:19: Dean Nolan: so dice whatever it's called clearly has the surge in investment because doog has been putting it in
18:19: dooglus: "clearly"? is there any reasoning behind that?
18:19: arrogant: does that bother you?
18:19: Dean Nolan: yes
18:19: Dean Nolan: read the second statment
18:19: Dean Nolan: no arro
18:20: arrogant: oh ok
18:20: dooglus: second? where do I count from?
18:20: Dean Nolan: 1 and then 2, thought you'd be good at maths
18:21: melds39: oooooooooooooooooooooooooooooooo
18:21: dooglus: I maybe missed some lines. I didn't see a 1 or a 2
18:21: Dean Nolan: well you are known to cut chat messages out
18:21: melds39: OooOOooOOooooOOOOo
18:21: dooglus: I sometimes edit for length and clarity, yes
18:22: wanton: dooglus, please satisfy all of our curiosity and give us an unequivocal statement
18:22: wanton: re investment and/or ownership
18:22: Dean Nolan: to try and make yourself look good which never worked? Yeah brilliant
18:22: dooglus: like in the log of you evading all my questions about my withdrawal request, I edited out the lines from the bot
18:22: melds39: lol
18:22: dooglus: wanton: what do you want to know?
18:22: Dean Nolan: see above, see my btctalk reply
18:22: chazley: its gettin hot in heeeeeere
18:22: wanton: 1. do you have any ownership interest in that dicebitco.in site
18:22: Dean Nolan: doog your embarrassing yourself
18:22: wanton: 2. do you have money invested there
18:22: dooglus: I don't have any relationship with dicebitco.in other than as a player (profit: 10 BTC) and investor (60 BTC, profit negative)
18:22: dooglus: is that clear enough?
18:23: wanton: crystal
18:23: KLYE: Darn. :/
18:23: KLYE: I was hoping you had a new site.
18:23: arrogant: Dean I think you have that a bit backwards

To be frank, this is what the usual suspect is. U accept or u dont, there is no way to verify the truth unless the world come to know U & DiceBitcoin owner as 2 different persons in real world. So, it is a natural thinking that after the closure of Just-Dice due to regulatory issues, U have set up DiceBitcoin in a different identity to bypass regulatory problems. But, as long as the site is fair, it really does not matter. Just like it does not matter who Satoshi is...

[tee-rex]

So now that dooglus is recommending Dicebitco.in (both in his sig and by directly investing himself), it seems that this might become the ultimate successor to the great JD.

Please note that I am not affiliated in any way with DiceBitco.in other than as a player, investor, and signature campaigner!

As to me, being an investor is a bit too much for saying "I am not affiliated in any way with DiceBitco.in". But it's probably just me.

[ovdsm]

As to me, being an investor is a bit too much for saying "I am not affiliated in any way with DiceBitco.in". But it's probably just me.

did you read his sentence to the end?

[tee-rex]

As to me, being an investor is a bit too much for saying "I am not affiliated in any way with DiceBitco.in". But it's probably just me.

did you read his sentence to the end?

Yes, I did. Being an investor to an enterprise does mean that you are affiliated. This is like saying that "I'm in no way affiliated with this woman other than being her husband, father of her children and besides that I'm sleeping with her". I hope I made my point clear, thank you.

[Holdaaja]

As to me, being an investor is a bit too much for saying "I am not affiliated in any way with DiceBitco.in". But it's probably just me.

did you read his sentence to the end?

Yes, I did. Being an investor to an enterprise does mean that you are affiliated. This is like saying that "I'm in no way affiliated with this woman other than being her husband, father of her children and besides that living with her". I hope I made my point clear, thank you.

There is other things you can have in dice site than just playing investing.
Basically what he is saying is that he is user of this site, not owner or worker.

[Carnth]

As to me, being an investor is a bit too much for saying "I am not affiliated in any way with DiceBitco.in". But it's probably just me.

did you read his sentence to the end?

Yes, I did. Being an investor to an enterprise does mean that you are affiliated. This is like saying that "I'm in no way affiliated with this woman other than being her husband, father of her children and besides that I'm sleeping with her". I hope I made my point clear, thank you.

I don't agree. Investing in Apple or Nestle doesn't make me affiliated with those companies, does it? Maybe it does in the strictest sense of the word, but I have no bearing on how those companies operate.

I think at most you could say that investing in something is an "endorsement."

Of course dooglus is a special case. A "celebrity" when it comes to crypto gaming. His advice has always been sound. So DB listening to what Dooglus has to say is just plain good business sense.

Basically what he is saying is that he is user of this site, not owner or worker.

100% agree. And now we can move on.

[suchmoon]

I'm curious whether anyone can help me understand the logic of the argument. Any idea what is meant by "second statment" here and how it somehow implies that the majority of DiceBitco.in's investment came from me?

I think it's crystal clear, Dean has some sour grapes to chew on. Being called out on a lie, which if I understand correctly is what happened with that delayed withdrawal, does that to people who are too stubborn to admit they messed up. I should know I do that sometimes too 

Full disclaimer: I invested in DB/BD before I knew dooglus was involved so my investment is in no way "affiliated" with that.

[BitCoinDream]

I'm curious whether anyone can help me understand the logic of the argument. Any idea what is meant by "second statment" here and how it somehow implies that the majority of DiceBitco.in's investment came from me?

I think it's crystal clear, Dean has some sour grapes to chew on. Being called out on a lie, which if I understand correctly is what happened with that delayed withdrawal, does that to people who are too stubborn to admit they messed up. I should know I do that sometimes too 

Full disclaimer: I invested in DB/BD before I knew dooglus was involved so my investment is in no way "affiliated" with that.

LoLz... funny disclaimer. Now anyone talking about DB needs to carry this