The limits are a bit low right now, but we'll be increasing them slowly over time as we get more comfortable managing our channels' liquidity.
Topic: bustabit – The original crash game (Read 61162 times)
Good news! We've finally added support for the Lightning Network on both bustabit and bustadice
The limits are a bit low right now, but we'll be increasing them slowly over time as we get more comfortable managing our channels' liquidity.
The limits are a bit low right now, but we'll be increasing them slowly over time as we get more comfortable managing our channels' liquidity.
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I would once again like to point out, this new rule is applicable to new "investors" not the players and existing investors. The situation is similar but at the same time different because stake does not have such an investment scheme running in it. We can only assume that this would trickle down to players and old investors, but for the time being this is not the case.I hope things continue running for old investors as they are. I have long terms investment plans on BAB already in their first phase.
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Read carefully, the need to KYC is currently only applicable to "new" investors, not existing investors, not players, only those who change their investment or newly invest.
So players can continue as they were playing.
-snip-
So players can continue as they were playing.
-snip-
This new measure makes me wonder a bit; players can keep on playing anonymously, old investors can still stay in the dark but new ones ( or already existing that want to raise their stack) have to verify their identity : why so? Is there any new recent legislation that requires you to verify the source of your investors from a certain date onwards or what? Why investors and not also players?
In that case, i think sooner or later the same rules for KYC may apply for old investors and players too. I also don't think that why only new investors are under the radar ?
Perhaps, they may implement changes in steps otherwise it will being panic among the gamblers already active at bustabit.
Personally, I think this approach is a strategy the casino employ to not try to make it look like they are pressurizing the already old players, its just a way to give the Old players time to prepare themselves well to get their account verified, while they can still freely play on the casino, forcefully asking every one to pass kyc verification will greatly affect the casino's income, as obviously, all gamblers will be paused from gambling, and only a few will try to pass the verification immediately so as to continue to play, the rest will take their time, and the casino may even lose alot of customers in the process.
Was the new rule introduced because you hold a particular passport and nationality which was different to the possessed by Daniel?
Not at all. The new rule was introduced because Daniel and I receive different legal advice.
As for only using private information for checking eligibility for bankroll investment, how will the data be protected. I cannot locate GDPR information on the website even though Europe based players must be using the website.
bustabit is required by law to retain records of all transactions in which it participates. Regardless of whether the GDPR is applicable to bustabit, data kept to fulfill legal requirements is exempt under the GDPR. From a technical perspective, this information is stored in a secure database with restricted access.
July 8, 2024: To ensure compliance with securities law, only accept new bankroll investments from verified and eligible investors
In the end you have to take the advice your legal team provides because they get paid to protect you and your interests but when you cite security laws, they vary from country to country. There is no one standard unified law. Was the new rule introduced because you hold a particular passport and nationality which was different to the possessed by Daniel?
As for only using private information for checking eligibility for bankroll investment, how will the data be protected. I cannot locate GDPR information on the website even though Europe based players must be using the website.
Hey, we made KYC mandatory based on our lawyers' advice, and Daniel had a different legal team. Rest assured, your personal information is only used to ensure you're eligible to invest in the bankroll and won't be passed on to third parties.
In the end you have to take the advice your legal team provides because they get paid to protect you and your interests but when you cite security laws, they vary from country to country. There is no one standard unified law. Was the new rule introduced because you hold a particular passport and nationality which was different to the possessed by Daniel?
As for only using private information for checking eligibility for bankroll investment, how will the data be protected. I cannot locate GDPR information on the website even though Europe based players must be using the website.
Why was this never an issue with Daniel and now is an issue with the new owner?
Hey, we made KYC mandatory based on our lawyers' advice, and Daniel had a different legal team. Rest assured, your personal information is only used to ensure you're eligible to invest in the bankroll and won't be passed on to third parties.
This new measure makes me wonder a bit; players can keep on playing anonymously, old investors can still stay in the dark but new ones ( or already existing that want to raise their stack) have to verify their identity : why so? Is there any new recent legislation that requires you to verify the source of your investors from a certain date onwards or what? Why investors and not also players?
1. The casino probably has way more old customers from the early days vs recent times so it better no to bombard them with KYC immediately and make them leave the casino as soon as possible2. They could be rolling out the KYC verification program in phases, starting with new users
3. Crypto regulations are getting tighter, Gambling regulations a like, so this was expected, similar to what you have seen with most centralized exchanges, so I don't think they have a choice if they want to keep operating.
Read carefully, the need to KYC is currently only applicable to "new" investors, not existing investors, not players, only those who change their investment or newly invest.
So players can continue as they were playing.
-snip-
So players can continue as they were playing.
-snip-
This new measure makes me wonder a bit; players can keep on playing anonymously, old investors can still stay in the dark but new ones ( or already existing that want to raise their stack) have to verify their identity : why so? Is there any new recent legislation that requires you to verify the source of your investors from a certain date onwards or what? Why investors and not also players?
In that case, i think sooner or later the same rules for KYC may apply for old investors and players too. I also don't think that why only new investors are under the radar ?
Perhaps, they may implement changes in steps otherwise it will being panic among the gamblers already active at bustabit.
Read carefully, the need to KYC is currently only applicable to "new" investors, not existing investors, not players, only those who change their investment or newly invest.
So players can continue as they were playing.
-snip-
So players can continue as they were playing.
-snip-
This new measure makes me wonder a bit; players can keep on playing anonymously, old investors can still stay in the dark but new ones ( or already existing that want to raise their stack) have to verify their identity : why so? Is there any new recent legislation that requires you to verify the source of your investors from a certain date onwards or what? Why investors and not also players?
The real test will be how many users continue to gamble at bustabit and how many decide to leave because of the KYC ?
Read carefully, the need to KYC is currently only applicable to "new" investors, not existing investors, not players, only those who change their investment or newly invest.So players can continue as they were playing.
We can assume things may change in future, but for the time being, its not.
Why was this never an issue with Daniel and now is an issue with the new owner?
I don't think it is an issue with the owners but it is the pressure by the authorities to have the KYC implemented (as with many other gambling sites) and in most cases, the owners does not have much choice and not everyone is willing to go against the law and eventually face the legal issues in operating the site.
The real test will be how many users continue to gamble at bustabit and how many decide to leave because of the KYC ?
Surprised nothing is being said about this:
Why was this never an issue with Daniel and now is an issue with the new owner?
Different times, different rules when it comes to money and online sites. This could be part of the reason Daniel decided to sell the site and walk away. If Leo is being told to do KYC, I'm sure he has good reason and isn't out to screw people over. Just protecting himself and the site. Quote
Important: verification required for new investments
Mon, Jul 8, 5:21 PM
Dear investor,
To comply with securities law, we will only accept new bankroll investments from verified investors going forward. If you wish to add more money to the bankroll, we will need to confirm your age and your citizenship/residency. If you choose not to go through the verification process, you will not be able to make new investments. However, you will still be able to divest and withdraw your funds as usual.
If you would like to continue investing, please reply to this email or submit a new support request using the form at https://bustabit.com/help/contact to begin the verification process.
Thank you for your understanding, Leo
Mon, Jul 8, 5:21 PM
Dear investor,
To comply with securities law, we will only accept new bankroll investments from verified investors going forward. If you wish to add more money to the bankroll, we will need to confirm your age and your citizenship/residency. If you choose not to go through the verification process, you will not be able to make new investments. However, you will still be able to divest and withdraw your funds as usual.
If you would like to continue investing, please reply to this email or submit a new support request using the form at https://bustabit.com/help/contact to begin the verification process.
Thank you for your understanding, Leo
Why was this never an issue with Daniel and now is an issue with the new owner?
Why was this never an issue with Daniel and now is an issue with the new owner?
Hey, we made KYC mandatory based on our lawyers' advice, and Daniel had a different legal team. Rest assured, your personal information is only used to ensure you're eligible to invest in the bankroll and won't be passed on to third parties.
Surprised nothing is being said about this:
Why was this never an issue with Daniel and now is an issue with the new owner?
Quote
Important: verification required for new investments
Mon, Jul 8, 5:21 PM
Dear investor,
To comply with securities law, we will only accept new bankroll investments from verified investors going forward. If you wish to add more money to the bankroll, we will need to confirm your age and your citizenship/residency. If you choose not to go through the verification process, you will not be able to make new investments. However, you will still be able to divest and withdraw your funds as usual.
If you would like to continue investing, please reply to this email or submit a new support request using the form at https://bustabit.com/help/contact to begin the verification process.
Thank you for your understanding, Leo
Mon, Jul 8, 5:21 PM
Dear investor,
To comply with securities law, we will only accept new bankroll investments from verified investors going forward. If you wish to add more money to the bankroll, we will need to confirm your age and your citizenship/residency. If you choose not to go through the verification process, you will not be able to make new investments. However, you will still be able to divest and withdraw your funds as usual.
If you would like to continue investing, please reply to this email or submit a new support request using the form at https://bustabit.com/help/contact to begin the verification process.
Thank you for your understanding, Leo
Why was this never an issue with Daniel and now is an issue with the new owner?
I was wondering about the the functioning of the bankroll: is it possible to keep track of investments/divestments in/from the bankroll by taking as reference two distinct moments, t1 and t2 for example, and comparing the difference (bankroll_t2 - bankroll_t1) with the difference (investors profit_t2 - investors' profit_t1), in the sense that in the absence of investments-divestments the differences mentioned above should coincide? or are there other variables at play?
Assuming I understand your question right, yes. If there are no investments or divestments, then the change in the bankroll should match the change in investors' profit. For what it's worth and in case you didn't know, you can find detailed information on bustabit’s bankroll balance, investors' profit and more at https://dicesites.com/bustabit.
Yes thanks, that's what I was asking.
Also thanks for reminding me about dicesites, I thought is wasn't run anymore because NLNico is not active anymore here and forgot about his site: glad to see it is still up providing those uptated infos.
I was wondering about the the functioning of the bankroll: is it possible to keep track of investments/divestments in/from the bankroll by taking as reference two distinct moments, t1 and t2 for example, and comparing the difference (bankroll_t2 - bankroll_t1) with the difference (investors profit_t2 - investors' profit_t1), in the sense that in the absence of investments-divestments the differences mentioned above should coincide? or are there other variables at play?
Assuming I understand your question right, yes. If there are no investments or divestments, then the change in the bankroll should match the change in investors' profit. For what it's worth and in case you didn't know, you can find detailed information on bustabit’s bankroll balance, investors' profit and more at https://dicesites.com/bustabit.
I was wondering about the the functioning of the bankroll: is it possible to keep track of investments/divestments in/from the bankroll by taking as reference two distinct moments, t1 and t2 for example, and comparing the difference (bankroll_t2 - bankroll_t1) with the difference (investors profit_t2 - investors' profit_t1), in the sense that in the absence of investments-divestments the differences mentioned above should coincide? or are there other variables at play?
Something happened with the actuallyfair.com ?
Sorry about that, there's a problem with actuallyfair where it's having some networking issue when connecting to the server that is privately hosted for bustabit. I have a permeant fix for that, and plan on deploying it today in a few hours
Update on this? Is it fixed?
Yeah, it was fixed shortly after Hussein posted. If you go to any game page, e.g. https://bustabit.com/game/10297069, and click on "Verify game result", you should be able to verify that game's outcome on ActuallyFair.com. Aditionally, our open-source verifier is also available for you.
Something happened with the actuallyfair.com ?
Sorry about that, there's a problem with actuallyfair where it's having some networking issue when connecting to the server that is privately hosted for bustabit. I have a permeant fix for that, and plan on deploying it today in a few hours
Update on this? Is it fixed?
Something happened with the actuallyfair.com ?
Sorry about that, there's a problem with actuallyfair where it's having some networking issue when connecting to the server that is privately hosted for bustabit. I have a permeant fix for that, and plan on deploying it today in a few hours
Something happened with the actuallyfair.com ? When I'm going e.g. this URL :
https://actuallyfair.com/apps/bustabit/vx/summary/567a98370fb7545137ddb53687723cf0b8a1f5e93b1f76f4a1da29416930fa59/10000001#he=1
I got, instead of result of game #10000001, this error message : Application error: a server-side exception has occurred (see the server logs for more information).
Digest: 555073511
Sometimes it works, but slowly. I'm observing this behaviour for several days (I saw the first error ~ 9-10 days back, or something like this).
https://actuallyfair.com/apps/bustabit/vx/summary/567a98370fb7545137ddb53687723cf0b8a1f5e93b1f76f4a1da29416930fa59/10000001#he=1
I got, instead of result of game #10000001, this error message : Application error: a server-side exception has occurred (see the server logs for more information).
Digest: 555073511
Sometimes it works, but slowly. I'm observing this behaviour for several days (I saw the first error ~ 9-10 days back, or something like this).
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