Topic: bustabit – The original crash game - page 55. (Read 61171 times)

It goes into the bankroll. The bankroll is owned by people who have "invested" in it (everyone has a stake, which represents what % of the bankroll they own). Bustabit itself charges 50% of all the bankroll-profits when ever it exceeds the historical "all time high" profit.


So a worked example:

 Say the bankroll is 1000 BTC. Then someone bets and wins 10 BTC.  They win from the bankroll, so the bankroll is 990 BTC. All investors stake remains the same. Now someone bets and loses 100 BTC. The bankroll would normally go: 990 + 100  = 1090 BTC. Except bustabit (aka Daniel) will want his cut. So he'd take 50% of the amount it's exceeded the historical highest profit. So in this case it'd be 50% of 90 BTC  = 45 BTC. So the bankroll will actually increase by 100 - 45 = 55 BTC, i.e. the new bankroll will be 990 + 45 = 1035 BTC.


So in summary:

When you invest or divest you get a % ownership of the bankroll (which adjusts other peoples % ownership). When players win, they win from the bankroll. When players lose, they lose to the bankroll (and bustabit's commission).


People only need a license if they use bustabit's actual code. Bustabit made the old version opensource under a restrictive license that requires you to keep any changes you make also open source, and had an option to buy a license that allowed you to make changes without needing to make them also opensource. Many people however just use code and don't abide by the license, or use the actual bustabit code but try pretend they're not.

It was maybe a mistake, but bustabit never tried to control the game-concept (i.e. there's no patents or anything like that), just a copyright on the actual code that bustabit uses. Think something like lord-of-the-rings. If you want to write a book about elves and orcs and shit you don't need permission/license from Tolkien's estate. But if you want to actually use his words, you do.

Some of it got taken by the house and the rest was distributed to Bankroll Investors.



For licenses check the following txt hosted on bustabit.
https://www.bustabit.com/license.txt

There are also some fraudalent ones posted there, I think Daniel would be interested in the sites if they are indeed fraudalent.

As far as I know if someone wants to offer bustabit like game on their casino, they have to acquire license from you guys, am I correct? If yes, then lately I see some local online casinos offer bustabit like game but I hugely doubt they would acquire license from you cause two of them doesn't even use provably fair system and uses RNG (at least they don't let people to see hashes to check).
Is there any place to check whether certain websites/casinos have acquired license from bustabit or not? In case would love to provide urls of these casinos to check, I am very interested in it.

WOW that's huge!
But does it mean bustabit won 100BTC or they've been distributed among other players?

edit: Large bet...

Looking at all time statistics on the website shows shocking numbers including amounts of BTC wagered and those won/lost. Phenomenal amounts of money has been wagered at Bustabit.

Moneypot was actually the original game of the crash game. Its inventor, Eric, had sold it to Ryan afaik

Original thread is here.
It's an interesting history for a casino.

Here's the auction thread, where moneypot (the original site with the crash game), was sold. Eric quoted saying the biggest bid was 100 BTC, in 2014...
So interesting that this is all out in the open.

It will vary on when those bets happened but basing of on Jolly's question the he might talk about largest single bet on BTC since he do mentioned out that 6.25 but on the point you had mentioned which it will really
vary if we do talk about fiat value or solely in bitcoin numbers.Me also do lose a couple of btc's wayback in 2018 but we know that the price is low due to market crash.I didnt bother than much
and now i didnt tend to look back on how much it is as todays price because it would really be just a stressful thing for me to think of.

There is a difference though. I mean not with this one but certainly with all other ones you can find. 6.25 is a lot more than 100 bitcoins 5 years ago for example, however that 99.6 bitcoin was last year and at a time when bitcoin was very valuable as well, so I wouldn't say that one is lower, it is definitely higher.

Yet I am sure there were times when thousands were wagered here, and we can't just look at that, I personally myself lost couple bitcoins here but not when it mattered thankfully, it would be devastating to lose couple bitcoins right now with how much it worths. So, depending on what you mean by "biggest bet" things can change, do you mean biggest in bitcoin or biggest in fiat? If it is biggest in fiat I am sure that one has a chance but if it is biggest in bitcoin I am sure there were plenty of times higher than 100 btc.

Yeah, moneypot! That was definitely the one that I was talking about. I even used that place for wallet for a looong time as well, I just invested everything I had in there and withdrawn only when I needed money, that way I thought it could have made a lot of profit.

Obviously it got so much money invested in it that at one point it got hacked or abused or whatever and people lost countless amount of bitcoin, which basically started their demise and it ended pretty quickly, they worked on V2 or whatever to get it going again but as long as there is no interest towards it, there was no way it could have made any profit neither.

It was pretty awesome when Rhavar had it, it became the biggest talking point in all of casino world in crypto and after he sold it, it became not so well over time.

The biggest placed bet was this one
https://www.bustabit.com/bet/289954383

a whopping  99.6 BTC... 

Spoiler, it lost! 

Very strange conduct by a user losing a massive 6.25 BTC after placing just one bet, then deleting the account after that. I wonder what the largest single bet ever placed on Bustabit and Bustadice were.

Oh I know that there are some people that have plenty of coins laying around and just gamble them for fun. What wonders me is that people create an account, deposit lose a huge amount (at least to me) and then delete their account and leave? Like to leave no traces that they lost this much and leave...
I mean I would understand that people come in and try to "wash" their coins on the site but leaving and deleting the account doesnt make sense.

I guess it happens in Vegas too, walk in bet 50k on Red, lose and leave.

^I guess for some people that is actually nothing. There are two types of people who can do that basically, one of them is the rich people we all know, they are rich and they can do this, they do it all around the world in casinos all the time so it is not a new thing, people have been gambling for over 2000 years and obviously rich people always did.

Secondly there are some early bird bitcoin people that have so much bitcoin that they can't cash them out all at the same time, you think there are no people with 50k bitcoin lying around?

Those people can't come out right away and sell them all and withdraw it in fiat, that takes a long time and a big hello from government so they do it slowly as well. Some of them just gets bored time to time and put it on gambling, they got it for few cents, so it doesn't matter to them.

Thanks Alani123.
I looked at the max profit and my small investment and noticed it grew a bit but missed who played and how much they lost!
Thanks for the update, but surprising people play, lose and then delete their account. Weird.

Whale time on bustabit.
I don't know if you see this every day, but someone just lost 6.25 BTC in a single bet and promptly deleted their account right after.

Here's the bet:
https://www.bustabit.com/game/3462696
And prior to that, the same user had 'missed' many opportunities to cash out 1000 bits @ 100x, 500x or even 900x. Instead they were just showing up on chat to flex saying "that was nothing".
This was their goodbye message:


We'll never know the context of these actions but it's just interesting to see how fast someone can crash and burn with gambling. Always remember to never gamble with what you can't afford to lose.

*Moneypot(.com). It was an interesting project, shame it didn't last, the URLs below for those who are curious:

https://web.archive.org/web/20151127194540/http://moneypot.com/
https://web.archive.org/web/20190115143554/http://moneypot.com/

Well he certainly does have an excellent reputation from what I can see, there are lots of people willing to vouch for devans and what cannot be denied is the manner in which he handled the situation with the vulnerability in the website which resulted in losses that he covered from his own pocket. That was a very swift move on his part to reassure investors and game players.

Well, Daniel has been around long enough to see a lot of casinos go bigger than bustabit and a lot of them crash and burn. I remember back in the day there was something called moneypool that was connected to rhavar as well, might be different name, maybe not moneypool, but something that was in general as an idea to have a collective bankroll for multiple casinos, just one bankroll, and countless other casinos all tied to that bankroll all together so they wouldn't need to have a bankroll.

There was a website there that eventually started using something called ruby as well. That website basically became the biggest casino there ever was in crypto for like.. a month? Then crashed and burned and nowhere to be found now. So, what I am saying is, Daniel knows what makes a casino big, and what makes it keep going as big without going down.

I kind of agree.
Yes its nice that Daniel offers us the possibility to invest but I think its in Daniels Interest to have people think highly of Bustabit. He doesnt want anyone to think bad about it, because players are the ones that play and generate profit!
A Casino doesn't want bad publicity, yes of course there will be some (players losing and blaming site) but payouts even on big wins are super quick and Daniel treats his high rollers and normal players with respect!

I guess when the investors are making so much money, it is really not a big deal if some people think bad of the website, its important what investors feel about investing, what others think about investing is really irrelevant. So, if you do not trust Daniel, if you do not trust the website itself, just do not invest?

It is really not like a forced thing, not every human has to put in 100 dollars into bustabit as soon as they turn 18 by law, it is a personal preference thing that you do if you want to, and if you do not want to just forget about it? I personally along with god knows how many countless investors do trust him, dude has been solid for a long long time since he got it from rhavar and ever since that moment investors have been making a ton of profit without stopping.