bustabit – The original crash game - page 4.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: Babquestion on February 28, 2024, 08:10:15 AM

If there is going to be no significant changes they should just keep this thread, as it will basically be the same exact game and experience.

Thread can be left as it is because a lot of old users have posted in this thread previously giving a lot of mathematical insights into the investment scheme on bustabit. This is one gem of a thread that most gamblers here hardly would understand.

I hope Leo brings in some new colour choices for the site, I liked the one on Moneypot and it would be nice to toggle between the two palettes.

Maybe a new signature campaign and more promotional stuff happening? Fingers crossed.

Babquestion

newbie

Activity: 4

Merit: 0

Quote from: hopenotlate on February 28, 2024, 02:51:51 AM

Congrats Leo for the purchases and the smooth transition between seller and buyer : now that everything is done have you considered starting a new Bustabit ( and Bustadice) thread by closing this one and put a link to the new thread in last post or do you prefer leaving things as they are here on bitcointalk?

If there is going to be no significant changes they should just keep this thread, as it will basically be the same exact game and experience.

hopenotlate

legendary

Activity: 3528

Merit: 1234

Top Crypto Casino

Congrats Leo for the purchases and the smooth transition between seller and buyer : now that everything is done have you considered starting a new Bustabit ( and Bustadice) thread by closing this one and put a link to the new thread in last post or do you prefer leaving things as they are here on bitcointalk?

Babquestion

newbie

Activity: 4

Merit: 0

Quote from: leomedina on February 27, 2024, 09:13:12 PM

Quote from: Babquestion on February 26, 2024, 03:02:07 PM

A few questions.

1. House edge will remain the same at 1%?

2. Is there any plans in the future to change any betting functionality such as max profit or max bet?

3. Will there be any plans in the future for KYC nonsense?

4. You mentioned the addition of a third party auditor, is that not redundant if the player can follow the hash chain and see crash results locally for themselves? What is the purpose of that addition?

I believe only question 3 hasn't been answered yet. We'll request KYC information only in cases where we suspect a player may be underage, from forbidden jurisdictions, or if mandated by law enforcement.

So you are merely taking the burden off Daniel and dont plan to change anything significantly, and in the longterm, correct?

leomedina

copper member

Activity: 106

Merit: 34

bustabit & bustadice

Quote from: Babquestion on February 26, 2024, 03:02:07 PM

A few questions.

1. House edge will remain the same at 1%?

2. Is there any plans in the future to change any betting functionality such as max profit or max bet?

3. Will there be any plans in the future for KYC nonsense?

4. You mentioned the addition of a third party auditor, is that not redundant if the player can follow the hash chain and see crash results locally for themselves? What is the purpose of that addition?

I believe only question 3 hasn't been answered yet. We'll request KYC information only in cases where we suspect a player may be underage, from forbidden jurisdictions, or if mandated by law enforcement.

JollyGood

legendary

Activity: 2534

Merit: 1713

Top Crypto Casino

Quote from: leomedina on February 26, 2024, 09:07:56 PM

Good news! both bustabit and bustadice are back online. Thanks for hanging in there. Let the fun begin! (while we continue monitoring things).

Congratulations on the successful transfer. Wishing you success in your endeavours.

Quote from: Timetwister on February 27, 2024, 06:31:53 AM

I'm surprised so much bankroll stayed, maybe Leo himself was a big investor.

I am also surprised the numbers did not drop on par with the previous days when divestment seemed to be on the minds of investors because the sale was announced. The bankroll is just below 700 BTC therefore well above the 400 BTC I anticipated would be left when the transaction to transfer was going to be completed.

devans

sr. member

Activity: 528

Merit: 368

Now that bustabit is using Leo's hashchain I can publish the seed of mine: The hash of the chain's final game #10,000,000 would have been c7229ce894a08e1d382c14e8c3c02bb06bc3b11dac3b370de6909bdfad09f9f6. In case anyone is curious, the median multiplier across the entire chain is 1.97x. The median across the part that wasn't played (game #8,535,717 and up) is also 1.97x.

Timetwister

legendary

Activity: 1199

Merit: 1047

It's a good start for Bustabit players under the new owner.

Leo, do you plan to change anything, like any marketing campaigns to increase the wagered amount?

I'm surprised so much bankroll stayed, maybe Leo himself was a big investor.

leomedina

copper member

Activity: 106

Merit: 34

bustabit & bustadice

Good news! both bustabit and bustadice are back online. Thanks for hanging in there. Let the fun begin! (while we continue monitoring things).

husseinhere

newbie

Activity: 18

Merit: 3

Quote from: JollyGood on February 26, 2024, 05:47:36 PM

As it has a proven track record it is unlikely for any issue to arise on the Bustabit server therefore third-party associates would most probably be where to look. If any outage were to happen at ActuallyFair (correct me if I am wrong) it would bring a cloud of uncertainty to all rounds that have finished on Bustabit until the connection was re-established.

Before bustabit accepts any bets to a round, it connects to ActuallyFair and collects the piece of information it needs to calculate a game result (the bust point). Only then does the round open for bets. So should ActuallyFair not be available, bustabit would be paused until it's able to connect. If it was done in a different way (e.g. Bustabit could start without ActuallyFair) it would open the possibility of cheating (i.e. bustabit pretends it couldn't connect to ActuallyFair because it didn't like the roll outcome).

All that said, ActuallyFair has been specifically designed to be highly available. Customers are provisioned with their own dedicated instance, which is firewalled so only the customer can connect to it (i.e. making it immune to DDoS attacks and the like) , and it has automatic fallback in a different physical location. So I hope to not have to eat my words, but availability should be very, very good.

JollyGood

legendary

Activity: 2534

Merit: 1713

Top Crypto Casino

As it has a proven track record it is unlikely for any issue to arise on the Bustabit server therefore third-party associates would most probably be where to look. If any outage were to happen at ActuallyFair (correct me if I am wrong) it would bring a cloud of uncertainty to all rounds that have finished on Bustabit until the connection was re-established.

Quote from: devans on February 26, 2024, 03:30:01 PM

The downsides are that the system is more complex and therefore more difficult to explain, especially to less-technical players, and that an outage at ActuallyFair could interrupt betting.

husseinhere

newbie

Activity: 18

Merit: 3

Quote from: Babquestion on February 26, 2024, 03:02:07 PM

4. You mentioned the addition of a third party auditor, is that not redundant if the player can follow the hash chain and see crash results locally for themselves? What is the purpose of that addition?

I'll be acting as the third party, so perhaps I can speak to this. What devans wrote above is a great answer. But to add a bit more context, the main benefit of a third party auditor is actually for bustadice. On Bustadice ActuallyFair will be able to provide a significant amount of guarantees, this is because ActuallyFair is given and records all the bet information before the outcome is provided to bustadice. However in bustabit this is not possible because players are able to cashout after bustabit knows the crash point.

So more practically ActuallyFair was used to provide a lot of value to Bustadice, and it sort of just makes sense to use the same system for both even though the benefits to Bustabit are more minor.

devans

sr. member

Activity: 528

Merit: 368

Quote from: Babquestion on February 26, 2024, 03:02:07 PM

1. House edge will remain the same at 1%?

2. Is there any plans in the future to change any betting functionality such as max profit or max bet?

3. Will there be any plans in the future for KYC nonsense?

4. You mentioned the addition of a third party auditor, is that not redundant if the player can follow the hash chain and see crash results locally for themselves? What is the purpose of that addition?

I can't speak for Leo, but I can answer some of these: The house edge and the game rules including how the max profit is calculated will remain unchanged. As before, players can verify the fairness of the game themselves without needing to trust the casino or ActuallyFair, so in that sense it is indeed redundant (in a positive sense). However, adding a third party mainly provides two advantages:

ActuallyFair can verify games on behalf of players, sounding the alarm if anything doesn't check out and backing up the player in case of a dispute.
Even with knowledge of the seed it is no longer possible to predict future rolls. This mitigates the risk of database server compromises, malicious hosting providers, rogue employees etc. for the casino.

The downsides are that the system is more complex and therefore more difficult to explain, especially to less-technical players, and that an outage at ActuallyFair could interrupt betting.

devans

sr. member

Activity: 528

Merit: 368

Just a quick update: Everything is going to plan with no unexpected problems. However, parts of the migration are taking longer than anticipated. We expect to bring bustabit back online first in the next few hours. Due to its database's size bustadice will likely need closer to 12 hours from now. Leo or I will update this thread again once we can provide a better estimate.

Babquestion

newbie

Activity: 4

Merit: 0

A few questions.

1. House edge will remain the same at 1%?

2. Is there any plans in the future to change any betting functionality such as max profit or max bet?

3. Will there be any plans in the future for KYC nonsense?

4. You mentioned the addition of a third party auditor, is that not redundant if the player can follow the hash chain and see crash results locally for themselves? What is the purpose of that addition?

CODE200

sr. member

Activity: 1484

Merit: 323

Quote from: arallmuus on February 23, 2024, 12:56:13 PM

The offer is probably too high to even be turned down and with the bull run almost at the front door, its pretty much a good decision to sell it for all for btc then wait until the bull run comes knocking the market

This probably a second thought for @devans since he's already said that the burden of responsibility of managing Bustabit is going to be shaky in his hands currently. I do agree though that it's a good decision, if I'm in the same position and I have already a pretty good profit out of my business and someone offers me something that's really difficult to refuse and in exchange I would be relinquishing the management of a profitable business but I can afford to be on vacation in a year in any tropical country of my choosing? I'd definitely be taking that offer.

leomedina

copper member

Activity: 106

Merit: 34

bustabit & bustadice

Quote from: pascal257 on February 24, 2024, 11:01:48 AM

So leomedina's account is not even 12 months old and doesn't have any trust records.

Is anyone able to give some background about him? Especially regarding red flags?

Quote from: leomedina on February 19, 2024, 11:33:58 AM

Hey! As Daniel has already mentioned, I will be overseeing bustabit's operations moving forward.

So, what's changing? In short, not much! I already have several improvements in mind and while Daniel has set the bar high, my goal is to largely continue operating bustabit as he has. However, as a result of the ownership change, it became necessary to generate a new hash chain, which you can find in bustabit's new provably fair seeding event.

I also took advantage of the opportunity and integrated ActuallyFair.com's Vx into our game result generation algorithm. This multi-party provably fair setup not only helps us have a more secure system, but also benefits players and investors. In addition, Actually Fair maintains transaction records of our games and verifies all games on behalf of our players.

We will continue to honor Bitcoin deposits to existing deposit addresses until June 1, 2024. After this date, they will become obsolete. Therefore, we ask that you stop depositing to your old deposit addresses by this date.

Hey! I totally get the questions about trust. While my account might be new, I've been working with Daniel for several years on busta's software. Ran MoneyPot for ~7 months too.

My goal is to run a fair and honest casino, just like Daniel did. Trust takes time, but I'm here for the long haul

Btw, feel free to hit me up anytime in the chat if you have any questions or just want to say hi.

pascal257

sr. member

Activity: 493

Merit: 262

So leomedina's account is not even 12 months old and doesn't have any trust records.

Is anyone able to give some background about him? Especially regarding red flags?

Quote from: leomedina on February 19, 2024, 11:33:58 AM

Hey! As Daniel has already mentioned, I will be overseeing bustabit's operations moving forward.

So, what's changing? In short, not much! I already have several improvements in mind and while Daniel has set the bar high, my goal is to largely continue operating bustabit as he has. However, as a result of the ownership change, it became necessary to generate a new hash chain, which you can find in bustabit's new provably fair seeding event.

I also took advantage of the opportunity and integrated ActuallyFair.com's Vx into our game result generation algorithm. This multi-party provably fair setup not only helps us have a more secure system, but also benefits players and investors. In addition, Actually Fair maintains transaction records of our games and verifies all games on behalf of our players.

We will continue to honor Bitcoin deposits to existing deposit addresses until June 1, 2024. After this date, they will become obsolete. Therefore, we ask that you stop depositing to your old deposit addresses by this date.

arallmuus

legendary

Activity: 2562

Merit: 1414

Quote from: Timetwister on February 22, 2024, 11:14:51 AM

I just checked again and it's still at around 1.5 BTC a day. Really impressive, it's sad that he decided to sell this business.

The offer is probably too high to even be turned down and with the bull run almost at the front door, its pretty much a good decision to sell it for all for btc then wait until the bull run comes knocking the market

Quote from: xxjumperxx on February 23, 2024, 11:44:11 AM

Bankroll reduced by by almost 900 Bitcoin. Wow

Still a pretty huge amount If you ask me and Im kinda expecting that once everyone is divested, some people could still invested small portion back into the site which probably could be atleast 200-300 btc so that is way higher than the new MP's all time high bankroll I guess

Mahdirakib

legendary

Activity: 1946

Merit: 1026

In Search of Incredible

Quote from: Timetwister on February 22, 2024, 11:14:51 AM

I just checked again and it's still at around 1.5 BTC a day. Really impressive, it's sad that he decided to sell this business.

I'm not sure how you are making the revenue calculation there, but is it the daily profit of Bustabit bankroll? Or is it the clean profit for Devans?

Quote from: xxjumperxx on February 23, 2024, 11:44:11 AM

Bankroll reduced by by almost 900 Bitcoin. Wow

It was expected to happen. The bankroll was around 1,400 Bitcoin when I checked it yesterday. Leo have to work hard to regain the trust of Bustabit old investors.

Topic: bustabit – The original crash game - page 4. (Read 61361 times)