After 1 year of diversified bitcoin dice house bank investment we lost 32.46% - page 5.

PocketRocketsCasino

legendary

Activity: 882

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Quote from: dogedice.me on January 29, 2015, 11:58:26 PM

You should know that BitDice risks 1% of the bankroll, PRC or JD risks 0.5%.

Actually since Dec 31st we allow up to 10% risk for any investor and JD now offers any risk level up to 99% as far as I'm aware.

Quote

The bitcoin dice investment industry: 37% scam rate & -24% ROI in 5 months"

The thread title and the stats posted are misleading and not representative of dice investment in general.

Some of the scam sites (on this list or not) were obvious or suspicious from the start and I and others tried to warn people of them.

But unfortunately people, including yourself, got scammed. It hurts the whole Bitcoin community, not just the gambling section of the forum and also makes it harder for all the legit Bitcoin operators.

The (total) ROI you posted isn't an accurate reflection of investing in the, very few, honest dice sites either.

Some of the investors at https://pocketrocketscasino.eu/ have over 100% ROI in the past 6 months and on average it is positive for all investors with a much better ROI than investing elsewhere. Even your own stats show 40% ROI which is a very good return.

Maybe you should keep the scam sites listed but show 2 figures for your ROI. One for your ROI from all the sites still in operation and one for the total like you have now?

Minnlo

hero member

Activity: 868

Merit: 1000

Quote from: pawel7777 on February 12, 2015, 07:38:07 AM

Quote from: Minnlo on February 12, 2015, 07:09:24 AM

Quote from: pawel7777 on February 09, 2015, 12:24:29 PM

Quote from: Minnlo on February 09, 2015, 12:16:44 PM

Ouch, 3 of the "top 8" sites were gone after just 4 months. The remaining 5 sites have a very good return rate, except for dicenow with only 3% p.a.

Lesson learned: The house is very likely to get nice profit with the presence of house edge, but it may not be the case for bankroll investors.

What do you mean by that? Are you suspecting operators to somehow steal the investors' earnings? If so, that shouldn't be difficult to prove. Care to elaborate?

Or are you just trying to increase your post count?

Huh? What kind of proof do you want lol?
As I said, 3 of the top 8 sites OP invested (Dice Ninja, Ice-Dice and Coinwin) become a scam within just 4 months. Just click the 3 sites' link in OP, and you will realize they are all down for quite some time already.

So nope, the 3 sites didn't just steal investors' earnings, they stole all the investments and deposits from gamblers.

I was referring to this part of your post:
"Lesson learned: The house is very likely to get nice profit with the presence of house edge, but it may not be the case for bankroll investors"

You made it sound like the house is taking a profit while investors don't. Which is not the case if the site is legit.
3 operators turned to be scammers but that have nothing to do with house edge. If the operator is genuine, his profits will go in line with investors' profit.

So the 'lesson learned' should rather be: "don't invest if you don't have any trust in the operator"

I see. I should have made my point more clearly, and sorry for the confusion caused.

pawel7777

legendary

Activity: 2436

Merit: 1561

Quote from: Minnlo on February 12, 2015, 07:09:24 AM

Quote from: pawel7777 on February 09, 2015, 12:24:29 PM

Quote from: Minnlo on February 09, 2015, 12:16:44 PM

Ouch, 3 of the "top 8" sites were gone after just 4 months. The remaining 5 sites have a very good return rate, except for dicenow with only 3% p.a.

Lesson learned: The house is very likely to get nice profit with the presence of house edge, but it may not be the case for bankroll investors.

What do you mean by that? Are you suspecting operators to somehow steal the investors' earnings? If so, that shouldn't be difficult to prove. Care to elaborate?

Or are you just trying to increase your post count?

Huh? What kind of proof do you want lol?
As I said, 3 of the top 8 sites OP invested (Dice Ninja, Ice-Dice and Coinwin) become a scam within just 4 months. Just click the 3 sites' link in OP, and you will realize they are all down for quite some time already.

So nope, the 3 sites didn't just steal investors' earnings, they stole all the investments and deposits from gamblers.

I was referring to this part of your post:
"Lesson learned: The house is very likely to get nice profit with the presence of house edge, but it may not be the case for bankroll investors"

You made it sound like the house is taking a profit while investors don't. Which is not the case if the site is legit.
3 operators turned to be scammers but that have nothing to do with house edge. If the operator is genuine, his profits will go in line with investors' profit.

So the 'lesson learned' should rather be: "don't invest if you don't have any trust in the operator"

Minnlo

hero member

Activity: 868

Merit: 1000

Quote from: pawel7777 on February 09, 2015, 12:24:29 PM

Quote from: Minnlo on February 09, 2015, 12:16:44 PM

Ouch, 3 of the "top 8" sites were gone after just 4 months. The remaining 5 sites have a very good return rate, except for dicenow with only 3% p.a.

Lesson learned: The house is very likely to get nice profit with the presence of house edge, but it may not be the case for bankroll investors.

What do you mean by that? Are you suspecting operators to somehow steal the investors' earnings? If so, that shouldn't be difficult to prove. Care to elaborate?

Or are you just trying to increase your post count?

Huh? What kind of proof do you want lol?
As I said, 3 of the top 8 sites OP invested (Dice Ninja, Ice-Dice and Coinwin) become a scam within just 4 months. Just click the 3 sites' link in OP, and you will realize they are all down for quite some time already.

So nope, the 3 sites didn't just steal investors' earnings, they stole all the investments and deposits from gamblers.

Mist

sr. member

Activity: 434

Merit: 250

:)

Nice thread, thank you for this info. This should also help newer investors decide where to head Tongue

Bitcoin Betting Guide

full member

Activity: 180

Merit: 100

Quote from: theskillzdatklls on February 09, 2015, 11:12:36 AM

did you take d00g up on his offer to get some free clams? seems like the least you could get for running this whole thing!!

We are not particularly anti alt-coins but we are only covering bitcoin operators for the moment.

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: finnile on February 09, 2015, 02:22:43 PM

Quote from: promojo on February 09, 2015, 12:41:59 PM

Interesting. The question is though... How can you consider using DICE sites an investment and not purely a gamble?

Eh, by simply clicking on the invest option rather than the roll one.

I think his point is that "investing" is a gamble too because at least 3 of the top 8 such sites were run by scammers.

finnile

full member

Activity: 196

Merit: 104

Quote from: promojo on February 09, 2015, 12:41:59 PM

Interesting. The question is though... How can you consider using DICE sites an investment and not purely a gamble?

Eh, by simply clicking on the invest option rather than the roll one.

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: theskillzdatklls on February 09, 2015, 11:12:36 AM

did you take d00g up on his offer to get some free clams? seems like the least you could get for running this whole thing!!

He didn't.

That offer again, in case he missed it:

Quote from: dooglus on January 28, 2015, 02:26:21 PM

I'd be happy too give you 1 BTC worth of CLAMs to invest for the purposes of comparison. Set up an account and PM me with details and I'll send them over.

promojo

sr. member

Activity: 420

Merit: 250

Interesting. The question is though... How can you consider using DICE sites an investment and not purely a gamble?

pawel7777

legendary

Activity: 2436

Merit: 1561

Quote from: Minnlo on February 09, 2015, 12:16:44 PM

...
Lesson learned: The house is very likely to get nice profit with the presence of house edge, but it may not be the case for bankroll investors.

What do you mean by that? Are you suspecting operators to somehow steal the investors' earnings? If so, that shouldn't be difficult to prove. Care to elaborate?

Or are you just trying to increase your post count?

Minnlo

hero member

Activity: 868

Merit: 1000

Ouch, 3 of the "top 8" sites were gone after just 4 months. The remaining 5 sites have a very good return rate, except for dicenow with only 3% p.a.

Lesson learned: The house is very likely to get nice profit with the presence of house edge, but it may not be the case for bankroll investors.

theskillzdatklls

hero member

Activity: 1328

Merit: 563

MintDice.com | TG: t.me/MintDice

did you take d00g up on his offer to get some free clams? seems like the least you could get for running this whole thing!!

pawel7777

legendary

Activity: 2436

Merit: 1561

Quote from: dsly on February 09, 2015, 09:59:38 AM

Was most of the amount lost due to scams or was it investment loss ?

Scams. 3 out of 8 sites run away with the funds. It's close to impossible to lose 100% investment if the site is legit. All the other 5 sites returned some profit.

dsly

full member

Activity: 168

Merit: 100

Quote from: Bitcoin Betting Guide on February 09, 2015, 05:39:36 AM

All figures are updated comrades but its a sad sight I'm afraid

http://bitcoin-dice-guide.com/dice-investment-comparison/

In terms of investments Peerbet had a great fortnight going from ฿1.132 to ฿1.226 and Win88 had a nice bump from 1.348 to 1.380

There was ~฿4000 wagered at BitDice and ~฿3000 at Pocket Rockets Casino

CoinWin became the 3rd brand in 5 months to do a runner and cost us the full ฿1 investment. The bank was very small and there was no way to contact site admin so it was a dumb place to invest in anyway.

It leaves us only ฿6.096 of the ฿8 invested.

Was most of the amount lost due to scams or was it investment loss ?

tmpxeroc

newbie

Activity: 20

Merit: 0

eagerly awaiting to see BitShares PLAY in that table too ..
at least you cannot get scammed there

BayAreaCoins

legendary

Activity: 4018

Merit: 1250

Owner at AltQuick.com

Quote from: Bitcoin Betting Guide on February 09, 2015, 05:39:36 AM

All figures are updated comrades but its a sad sight I'm afraid

http://bitcoin-dice-guide.com/dice-investment-comparison/

In terms of investments Peerbet had a great fortnight going from ฿1.132 to ฿1.226 and Win88 had a nice bump from 1.348 to 1.380

There was ~฿4000 wagered at BitDice and ~฿3000 at Pocket Rockets Casino

CoinWin became the 3rd brand in 5 months to do a runner and cost us the full ฿1 investment. The bank was very small and there was no way to contact site admin so it was a dumb place to invest in anyway.

It leaves us only ฿6.096 of the ฿8 invested.

Just-dice ftw

Bitcoin Betting Guide

full member

Activity: 180

Merit: 100

All figures are updated comrades but its a sad sight I'm afraid

http://www.bitcoin-dice-guide.com/dice-investment-comparison/

In terms of investments Peerbet had a great fortnight going from ฿1.132 to ฿1.226 and Win88 had a nice bump from 1.348 to 1.380

There was ~฿4000 wagered at BitDice and ~฿3000 at Pocket Rockets Casino

CoinWin became the 3rd brand in 5 months to do a runner and cost us the full ฿1 investment. The bank was very small and there was no way to contact site admin so it was a dumb place to invest in anyway.

It leaves us only ฿6.096 of the ฿8 invested.

MultiDice

sr. member

Activity: 322

Merit: 250

We at MultiDice Treat You Like a Winner

Quote from: Bitcoin Betting Guide on January 30, 2015, 12:01:49 AM

Quote from: MultiDice on January 29, 2015, 08:58:41 AM

Can I ask you politely, on what grounds would you consider MultiDice same business model and risk profile as icedice or the other site?

At first glance everything. On what grounds is it different?

Well, first technically we are not a "small new site". MultiDice was around for months when we used to operate buggy coindice script. First royal-casino then Bitcoindice and now MultiDice. I made a bad decision to start MultiDice brand using coindice script. I tried for months to make it right, invested substantial amount of money, hired developers but it was all for nothing as the coindice code was so buggy the only rescue was to re-write completely or start over. We decided to shut down the site back then and look for most secure code available, we allowed everyone to withdraw their funds which of course went without issues or missing balances, that's second.

Only recently I re-launched with a new site, fresh balance, backing from trusted developer and support from good people, again after lots spent and hours of work. This time we did make it right, the game is fair, UI attractive, servers are safe and site secured to the point I can sleep at night without worrying about balances.

I hope you feel a little safer now to test MultiDice, but just in case I am willing to put 1BTC in any trusted escrow provider you name for the time you keep your funds at MultiDice. If anything goes bad escrow will just release it to you.

Bitcoin Betting Guide

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Quote from: dogedice.me on January 30, 2015, 12:06:50 AM

Also I wonder by what reasons you've lowered our review score from 82% to 77%?

Because I played some more there and found the betting interface sub optimal, the Go Auto bot in particular as I detailed here.

http://www.bitcoin-dice-guide.com/bitcoin-dice-automatic-betting-bots/

I still like BitDice overall though, I will look into the weighted bankroll and supplying % stuff soon.

Topic: After 1 year of diversified bitcoin dice house bank investment we lost 32.46% - page 5. (Read 17814 times)