DaDice.com - Next Gen Social Gambling Dice Experience | Progressive Jackpot

[dadice]

Meteor Shower
A fresh new way to look at 'Bitcoin Rains'!



We are pleased to announce the addition of yet another exciting and generously rewarding feature! Every hour meteors will shower up to 5 active participants with as much as 0.0001 BTC per winner. All you need to do is have a 'hang out' with your friends and other DaDice players in our chat and you could be one of next possible winners.

This is whole new concept of 'Bitcoin Rains', as the rewards for up to 5 possible winners are guaranteed (funded by DaDice itself), and is fairly based on their chat activities. There is an algorithm in place to keep checks and weigh the quality of messages being exchanged.

Q: Will I get my reward if I go offline?

Yes, Meteors shower users based on their chat activity during last hour. If you were one of possible winners, you will still be rewarded even after you have went offline.

Q: Do I need to make any contribution to be eligible for Meteor Showers?

No, Meteor Shower account is funded by Da Dice and there is no need for our users to make any contributions.

Q: Am I still qualified for Jackpot if I am tipped by Meteor Shower?

Yes, receiving a reward from meteors will not affect your qualification to chase and hit our progressive Jackpot in anyway.

[dooglus]

Can someone explain how this guy was able to win around 20 BTC when the effective bankroll is only around 1000 BTC after taking Kelly multipliers into account?



The maximum profit per roll is meant to be 1% of the effective bankroll, which would be around 10 BTC.

Will the investors be expected to pay out of their own pockets for this error, if that is what it is?

[arallmuus]

this needs to be addressed immediately, things are going south

Also bolded few important part :

I invested a certain amount of btc in DADICE at a kelly of 10, as far as I know this means I can only lose 10% of my profit in 1 bet.

Reading their website this was confirmed : https://www.dadice.com/print?investments
The maximum pay-out of the site is calculated by taking the sum of all the investments * risk * 0.01. So imagine we had user A with 10 Bitcoins invested at 1/2 Kelly, B with 10 at 5x and C with 10 at 10x. The maximum pay-out would be:

(10*0.5*0.01) + (10*5*0.01) + (10*10*0.01) = 1.55 Bitcoin

Then someone made 1 bet : #407989150
and my investment went immediately down by 29%
After talking to 1 staff member (M.F., full name and private info known) got the info that max bet is 20 btc and that it is independent of the amount invested. On the question why the above information was on their website and why they mention using the kelly criterion but are not doing that they couldn't give me an appropriate answer. If I ask what would happen if someone would win 100 x 20 btc (and investments would all be negative) he just said : "we will not pay him the won amount".

For this reason I would want to ask them to send me my losses  of ca. 2 BTC (only due to allowing a bet which shouldn't be allowed by the kelly criterion) to 1JnKcPAG8pieCdFA23X9yxvwMq5aeB9yqJ, and make their site implement the kelly criterion correctly (or remove every false/misleading information from their website)



*Investments are shown on the website as investment x kelly.

References here https://bitcointalk.org/index.php?topic=1114399.msg11825240#new

[leen93]

Can someone explain how this guy was able to win around 20 BTC when the effective bankroll is only around 1000 BTC after taking Kelly multipliers into account?



The maximum profit per roll is meant to be 1% of the effective bankroll, which would be around 10 BTC.

Will the investors be expected to pay out of their own pockets for this error, if that is what it is?

Because they implemented the kelly criterion wrong.

https://bitcointalk.org/index.php?topic=1114399.0
I just opened a scam accusation, I have a skype talk with the owner tomorrow to sort everything out and let them implement the kelly criterion in the right way.

[98problems]

JACKPOT STILL CLIMBING!!!!!

Currently Jackpot stands at 1.33690025 BTC

Will you be the next winner???

Roll a winning 0 with bet ID and Timestamps as primes and you could be next!!

Good luck and Keep Rollin!!

wait were there any winners of it since the very begining when this competition started? im curious whether anyone managed to do that

[trafficolaa]

JACKPOT STILL CLIMBING!!!!!

Currently Jackpot stands at 1.33690025 BTC

Will you be the next winner???

Roll a winning 0 with bet ID and Timestamps as primes and you could be next!!

Good luck and Keep Rollin!!

wait were there any winners of it since the very begining when this competition started? im curious whether anyone managed to do that

Since now 5 winners who hit the jackpot and now that is 6th progressive jackpot, you can check the real time update status about the whole site statics included the jackpot from the the link given below,

https://stats.dadice.com/

[dooglus]

Because they implemented the kelly criterion wrong.

It doesn't sound like they implemented it at all.

Instead of letting investors specify how much they want to risk per roll they just go ahead and risk up to 20 BTC per roll no matter what the investors decide.

[SebastianJu]

Oh well. Lets see if the investor gets paid. If they really sat up the max profit in order to attract gamblers and did not use the kelly criterion then they are at risk being wiped out fast.

Im interested to see if the investor gets paid since its of course not ok to risk investors money that way. Though i think when investors are ok with not knowing if their coins are actually still there then i dont have so very much empathizing? with them. If you take a risk you take a risk.

By the way... who wants to catch a meteor? Oo

[waterpile]

[....] what would happen if someone would win 100 x 20 btc (and investments would all be negative) he just said : "we will not pay him the won amount" [...]

Can you please provide evidence of this. Perhaps a skype screenshot?


 If this is true, this is extremely serious. By accepting bets they knowingly can't or won't pay, they are basically scamming users.

you might want to see leen's accusation: https://bitcointalk.org/index.php?topic=1114399.0

If those replies are from the real dadice team then I don't know if this would end up a good story..

[Dotakels]

Name: Dotakels
Type: Pay per Post
Position: Full Member
Address: 18JpYDYot4TnpsqZFz5r47uS2AzAZcDkhU
Link to Recent Post: https://bitcointalk.org/index.php?action=profile;u=495508;sa=showPosts

[dooglus]

Any comment from the site owners about this?

After talking to 1 staff member (M.F., full name and private info known) [...]. If I ask what would happen if someone would win 100 x 20 btc (and investments would all be negative) he just said : "we will not pay him the won amount".

While I understand the short term benefits of refusing to pay out big winners it does seem a little shortsighted.

Is this official DaDice policy?

If I was looking for a dice site to play on, I might not chose the one which has a stated policy of not paying out people who win too much.

[amgad_fahd]

i have deposited 0.7 BTC 2 days ago and still not showed in my balance yet or even showing in the pending deposits and it's confirmed by the blockchain yesterday and yes i have sent 2 e-mails to support and i got no reply
my user name is : wfdau

[dadice]

Any comment from the site owners about this?

After talking to 1 staff member (M.F., full name and private info known) [...]. If I ask what would happen if someone would win 100 x 20 btc (and investments would all be negative) he just said : "we will not pay him the won amount".

While I understand the short term benefits of refusing to pay out big winners it does seem a little shortsighted.

Is this official DaDice policy?

If I was looking for a dice site to play on, I might not chose the one which has a stated policy of not paying out people who win too much.

This issue will certainly being addressed in the hours ahead. Since I have no knowledge of the chat, I need to wait until dev is coming online to get the facts.

[dadice]

i have deposited 0.7 BTC 2 days ago and still not showed in my balance yet or even showing in the pending deposits and it's confirmed by the blockchain yesterday and yes i have sent 2 e-mails to support and i got no reply
my user name is : wfdau

Your payment was made yesterday evening, not two days ago. There has been some blockchain issues yesterday and your deposit went into pending. We credited it earlier this morning.

Sorry for the inconvenience.

[amgad_fahd]

i have deposited 0.7 BTC 2 days ago and still not showed in my balance yet or even showing in the pending deposits and it's confirmed by the blockchain yesterday and yes i have sent 2 e-mails to support and i got no reply
my user name is : wfdau

Your payment was made yesterday evening, not two days ago. There has been some blockchain issues yesterday and your deposit went into pending. We credited it earlier this morning.

Sorry for the inconvenience.

i made the deposit on 2015-07-07 evening and it's just credited now so that's almost 2 days but anyway thanks for the response

[dadice]

i have deposited 0.7 BTC 2 days ago and still not showed in my balance yet or even showing in the pending deposits and it's confirmed by the blockchain yesterday and yes i have sent 2 e-mails to support and i got no reply
my user name is : wfdau

Your payment was made yesterday evening, not two days ago. There has been some blockchain issues yesterday and your deposit went into pending. We credited it earlier this morning.

Sorry for the inconvenience.

i made the deposit on 2015-07-07 evening and it's just credited now so that's almost 2 days but anyway thanks for the response

Ah sorry, timezone issue. Glad you have received it.

[leen93]

https://bitcointalk.org/index.php?topic=1114399.0

I request an answer on the issue in the OP. About the not correct implementation of the kelly criterion.

[dadice]

We are getting there!

On the way to our next big milestone, 500 million rolls!

We are close to 414 million rolls right now. Please remember, the bounty is at 1 BTC, if the 500 million roll happens on the 30th of June or later and will increase by 0.05 BTC each day it hit earlier.

Keep Rollin' !!

[OrangeSeller]

Weird where is Dadice staff?he usually post it daily

[98problems]

Weird where is Dadice staff?he usually post it daily

uhmm are you talking about this?

We are getting there!

On the way to our next big milestone, 500 million rolls!

We are close to 414 million rolls right now. Please remember, the bounty is at 1 BTC, if the 500 million roll happens on the 30th of June or later and will increase by 0.05 BTC each day it hit earlier.

Keep Rollin' !!

also i cant wait for that bounty, will definitely participate even if it will be at night for me