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Topic: bustabit – The original crash game - page 80. (Read 61526 times)

legendary
Activity: 4018
Merit: 1250
Owner at AltQuick.com
October 19, 2019, 11:24:55 PM
How is it misleading if it says right there in that Google snippet: "Assuming you trust the two [bustadice and auditor] not to collude".

Do you understand what provably fair means?  It means you do not have to trust individuals & you can self verify cheats.  It isn't "provable" if it relies on individuals. It's probably-fair (maybe).

Here are several quotes from RHavar:

So personally I am reasonably convinced the game seeding was done fairly, but I'm not sure it's done well enough to say it's provably fair (maybe "probably fair" is more appropriate?)

That system is known as "provably fair" and contains absolutely everything you need to prove the game is fair. While i do admit it requires quite a bit of technical knowledge, it has the advantage that anyone can verify the game for everyone. So if you can find someone who understands how the maths primitives work, it should be easy to verify =)

You're kind of mixing up terminology here, but you're also on the wrong track. Provably fair means you can prove the game was fair. End of story. If you can't do that, then it's not provably fair.

In the sense that a normal bitcoin casino offers "provably fair" which means "it can cheat you, but you can detect if they do"  

So my strong advice for players would be to use a system they can verify themselves (i.e. provably fair)

Here is a quote from the Bustadice thread from Ryan tonight:

which states the caveat pretty explicitly. Although I actually agree with you in that provably-fair is the wrong term for it. I'd probably write the copy as "Assuming you trust the two not to collude, investors are given additional protections against cheating" or something of that sort
sr. member
Activity: 1932
Merit: 300
October 19, 2019, 09:34:58 PM
I think you are misleading investors that investing is Provably Fair is a bit manipulative.

These games are only Provably Fair proveable fair to players, these investing sites are currently not Provably Fair to investors. (besides maybe PF to you and devan, but it is definitely not PF to me if I invest.)

Investing is not Provably Fair by math.  Period.  Please consider changing this.

How is it misleading if it says right there in that Google snippet: "Assuming you trust the two [bustadice and auditor] not to collude".

Investors need to trust the owner. If you don't trust, you should not invest. Bustabit is an old gambling site and it's stats speaks of itself.
With the new rule of site getting commission only from the profit of investors, it would be a much better platform for users as well as investors.
The removal of dilution fee may change some earning statistics for long term users.
legendary
Activity: 3654
Merit: 8909
https://bpip.org
October 19, 2019, 09:26:16 PM
I think you are misleading investors that investing is Provably Fair is a bit manipulative.

These games are only Provably Fair proveable fair to players, these investing sites are currently not Provably Fair to investors. (besides maybe PF to you and devan, but it is definitely not PF to me if I invest.)

Investing is not Provably Fair by math.  Period.  Please consider changing this.

How is it misleading if it says right there in that Google snippet: "Assuming you trust the two [bustadice and auditor] not to collude".
legendary
Activity: 4018
Merit: 1250
Owner at AltQuick.com
October 19, 2019, 08:41:35 PM
So the only thing I can see that I think is strictly beneficial is trying to make sure that casinos are consumer-friendly casinos as possible (i.e. fair, transparent, no manipulative/lockin bullshit like roll-over reqs etc.)





I think you are misleading investors that investing is Provably Fair is a bit manipulative.

These games are only Provably Fair proveable fair to players, these investing sites are currently not Provably Fair to investors. (besides maybe PF to you and devan, but it is definitely not PF to me if I invest.)

Investing is not Provably Fair by math.  Period.  Please consider changing this.

Because investing isn't provably fair



legendary
Activity: 3472
Merit: 1727
October 19, 2019, 12:58:21 PM
It seems to me that would be honest to gambling people to limit the maximum bet to 100,000 bits, if someone loses large sums it could ruin his life, I don’t think that the person can recover after a huge loss which is more than his wage which he can get for the whole life.

Someone could have enough coins left over from older days that betting tens of bitcoins at a given time is not an issue for them, if they feel like betting good for them and for bustabit's investors.

And they could still lose a lot of money with a series of smaller bets — as many do.

https://www.bustabit.com/faq/gambling-addiction

hero member
Activity: 826
Merit: 501
October 19, 2019, 12:26:29 PM
It seems to me that would be honest to gambling people to limit the maximum bet to 100,000 bits, if someone loses large sums it could ruin his life, I don’t think that the person can recover after a huge loss which is more than his wage which he can get for the whole life.
legendary
Activity: 3472
Merit: 1727
October 19, 2019, 09:53:26 AM
Yeah and considering there is a house edge in this game it means you will profit no matter what, there is absolutely no way you will lose money investing into this casino, sure you can lose if you get in and someone wins big and you get out, but as long as you stay as long as required you will always make money for sure.

That is the trick, you have to wait and if you wait enough eventually you will make money however some people get too afraid and leave too early and they may end up with some loss but the logic here is to have house edge on your favor (which we do) and wait, sure there could be times when profit goes down but in general there is literally no technical way that we don't make a profit, maybe there will be a huge loss one day but wait it out and you will be in profit for sure.

It's not guaranteed, a very rich gambler with a lucky streak can still wipe out the bankroll, even if it's unlikely at current max profit per bet to bankroll ratios. Or it may take very long time for the investors to recover their losses if for some reason the site loses popularity after a whale leaves with a lot of bitcoins. People who have offsite bankroll should be especially careful; 400 BTC left the offsite bankroll yesteday or so.
But as things stand, PredictableLegacy just lost 200 BTC.
hero member
Activity: 2744
Merit: 586
Leading Crypto Sports Betting & Casino Platform
October 19, 2019, 08:48:12 AM
All business involve the risk but the crash games are more risker than ever. Anyone who comes to play the crash games should understand that it can make him big loss too.  However incipite of all the risk, I like to play bustabit  crash games as it has a lot of fun playing the game.
Finally its our money and we can spent/risk in what ever way we want.
Yeah and considering there is a house edge in this game it means you will profit no matter what, there is absolutely no way you will lose money investing into this casino, sure you can lose if you get in and someone wins big and you get out, but as long as you stay as long as required you will always make money for sure.

That is the trick, you have to wait and if you wait enough eventually you will make money however some people get too afraid and leave too early and they may end up with some loss but the logic here is to have house edge on your favor (which we do) and wait, sure there could be times when profit goes down but in general there is literally no technical way that we don't make a profit, maybe there will be a huge loss one day but wait it out and you will be in profit for sure.
legendary
Activity: 3206
Merit: 1174
Leading Crypto Sports Betting & Casino Platform
October 19, 2019, 01:00:05 AM
I don't understand how people can like the fact that they got 500+ btc in profits as a whole and then lost 100 and then suddenly decide volatility is bad. Its the same people who said bitcoin is a worthless useless made up thing when it went from 20k to 3k but never really seen them talk about how awesome it is then when it went to 20k to begin with.

Same logic, these people like to collect their profits, make a decent return but then the moment they start to lose money "the volatility bla bla bla", well I am sorry but when you are investing in a casino and a casino that has even profited you before, then you are taking the risk that sometimes people will win, it is gambling there are ups and downs, on the long run house will always win but there will be short bursts of wins like this.
Those are people who don't understand the word "Risk" at all.
In the investment or Business world. Once you put out your money on something expecting some profit out it. It doesn't matter what kind of business it is, there is always a risk involved.

Naive People always want to focus on profits forgetting that losses can also happen at certain points.

All business involve the risk but the crash games are more risker than ever. Anyone who comes to play the crash games should understand that it can make him big loss too.  However incipite of all the risk, I like to play bustabit  crash games as it has a lot of fun playing the game.
Finally its our money and we can spent/risk in what ever way we want.
legendary
Activity: 2366
Merit: 1272
Heisenberg
October 18, 2019, 11:21:21 PM
I don't understand how people can like the fact that they got 500+ btc in profits as a whole and then lost 100 and then suddenly decide volatility is bad. Its the same people who said bitcoin is a worthless useless made up thing when it went from 20k to 3k but never really seen them talk about how awesome it is then when it went to 20k to begin with.

Same logic, these people like to collect their profits, make a decent return but then the moment they start to lose money "the volatility bla bla bla", well I am sorry but when you are investing in a casino and a casino that has even profited you before, then you are taking the risk that sometimes people will win, it is gambling there are ups and downs, on the long run house will always win but there will be short bursts of wins like this.
Those are people who don't understand the word "Risk" at all.
In the investment or Business world. Once you put out your money on something expecting some profit out it. It doesn't matter what kind of business it is, there is always a risk involved.

Naive People always want to focus on profits forgetting that losses can also happen at certain points.
legendary
Activity: 1199
Merit: 1047
October 18, 2019, 10:31:43 PM
I wish there were more whales, they make investing really profitable.
legendary
Activity: 3122
Merit: 1140
October 18, 2019, 05:28:27 PM
I don't understand how people can like the fact that they got 500+ btc in profits as a whole and then lost 100 and then suddenly decide volatility is bad. Its the same people who said bitcoin is a worthless useless made up thing when it went from 20k to 3k but never really seen them talk about how awesome it is then when it went to 20k to begin with.

Same logic, these people like to collect their profits, make a decent return but then the moment they start to lose money "the volatility bla bla bla", well I am sorry but when you are investing in a casino and a casino that has even profited you before, then you are taking the risk that sometimes people will win, it is gambling there are ups and downs, on the long run house will always win but there will be short bursts of wins like this.
Get used to it.People doesnt really have that compliment when they are benefited but when the time comes that the situation turns up side down then
they do already starts to complain and saying up things negatively.House always wins but these big wins from players is inevitable which would mainly affect
investors side.So nothing surprises here!
newbie
Activity: 2
Merit: 0
October 18, 2019, 04:57:36 PM
I don't understand how people can like the fact that they got 500+ btc in profits as a whole and then lost 100 and then suddenly decide volatility is bad. Its the same people who said bitcoin is a worthless useless made up thing when it went from 20k to 3k but never really seen them talk about how awesome it is then when it went to 20k to begin with.

Same logic, these people like to collect their profits, make a decent return but then the moment they start to lose money "the volatility bla bla bla", well I am sorry but when you are investing in a casino and a casino that has even profited you before, then you are taking the risk that sometimes people will win, it is gambling there are ups and downs, on the long run house will always win but there will be short bursts of wins like this.

I think if given the choice I would rather not be included in bets of say of over 5 btc. Smaller bets spread out the risk, I am not a gambler as such myself and I am relying on the house edge over many bets to slowly net a profit, I wouldn't 'all in' this btc on a bet I had slightly more than 50% chance of winning. I don't think I should be judged so harshly for not wanting my investment here to be so volatile. I have been happy with bustabit and I think daniel has done a great job, I just don't want to wake up rekt by whales if something similar happens again with the max bet so high. I have divested now, good luck with the site.
hero member
Activity: 2968
Merit: 640
October 18, 2019, 11:45:56 AM
I don't understand how people can like the fact that they got 500+ btc in profits as a whole and then lost 100 and then suddenly decide volatility is bad. Its the same people who said bitcoin is a worthless useless made up thing when it went from 20k to 3k but never really seen them talk about how awesome it is then when it went to 20k to begin with.

Same logic, these people like to collect their profits, make a decent return but then the moment they start to lose money "the volatility bla bla bla", well I am sorry but when you are investing in a casino and a casino that has even profited you before, then you are taking the risk that sometimes people will win, it is gambling there are ups and downs, on the long run house will always win but there will be short bursts of wins like this.
legendary
Activity: 2772
Merit: 3284
October 17, 2019, 08:28:28 PM
months of investing profit rekt by PredictableLegacy

increasing betting limits and so increasing volatility like this isn't a good thing for people like me who wanted a half stable interesting place to put some of their btc. maybe you dont have much sympathy for investors but i have been recommending this site for a long time and I feel a bit sore. max bet doesn't need to be more than a few BTC as we are working with only 0.5% house edge, whales can easily come in like this and ruin it for us. I don't want to be the counterparty for huge bets, i would rather be in a pool against many smaller ones.

He did build up a lot of the investing profit though, he's still in a 600 BTC hole. Your best bet for very low volatility casino investments is probably Crypto-Games.net; there's a 0.5% max profit and low volume so you can have much slower but more stable growth.
full member
Activity: 211
Merit: 100
gamblingsitefinder.com
October 17, 2019, 08:19:10 PM
months of investing profit rekt by PredictableLegacy

increasing betting limits and so increasing volatility like this isn't a good thing for people like me who wanted a half stable interesting place to put some of their btc. maybe you dont have much sympathy for investors but i have been recommending this site for a long time and I feel a bit sore. max bet doesn't need to be more than a few BTC as we are working with only 0.5% house edge, whales can easily come in like this and ruin it for us. I don't want to be the counterparty for huge bets, i would rather be in a pool against many smaller ones.

Looking at my Bustabit bankroll investment certainly hurts right now, but let's be honest, if PredictableLegacy lost another ~550 BTC today, this would not be an issue. In fact, you'd probably be refreshing the page every two minutes jumping for joy. We all knew the risks when we joined the bankroll, I say bring on the variance!

But in the meantime, congrats PredictableLegacy on the massive win!
legendary
Activity: 3472
Merit: 1727
October 17, 2019, 04:26:23 PM
Actually, volatility is lower now with how commissions are now calculated. With a lower max bet, the site would be less attractive to whales. Just how profits have been quite generous in the past, among other reasons due to whales leaving a lot of money behind, it also means that once in a while the pendulum can swing in the other direction. But as long as the site remains similarly popular it shouldn't be a problem, and the whale is still >600 BTC in the red. And he may well continue losing if he doesn't walk away.
newbie
Activity: 2
Merit: 0
October 17, 2019, 03:30:55 PM
months of investing profit rekt by PredictableLegacy

increasing betting limits and so increasing volatility like this isn't a good thing for people like me who wanted a half stable interesting place to put some of their btc. maybe you dont have much sympathy for investors but i have been recommending this site for a long time and I feel a bit sore. max bet doesn't need to be more than a few BTC as we are working with only 0.5% house edge, whales can easily come in like this and ruin it for us. I don't want to be the counterparty for huge bets, i would rather be in a pool against many smaller ones.
sr. member
Activity: 528
Merit: 368
October 17, 2019, 01:21:01 AM
Our web host is experiencing some issues. I've moved to a different provider in the meantime and you should be able to connect normally again.

Actually I still have this problem, because I cant connect it again when it said connecting, at some moment it keeps on disconnecting and keep doing this thing again and again. I can't even checked on the easternunion stats which is walk away with negative 160 btc. I never saw someone is really losing that huge amount before. He is profitting 50 btc before he crashed to -160 btc

If the web site loads for you but you can't connect to the game it's not an issue with the web server. Send me a PM here on the forum with your user name and IP address (you can find it at http://icanhazip.com) and I'll have a look for you.
sr. member
Activity: 528
Merit: 368
October 17, 2019, 01:18:54 AM
BTW with the new commission structure, how does that affect dilution fees? Like say the site is at an ATH profit, and someone pays 1 BTC in dilution fees. Will bustabit take a 50% cut, or is it commission free?

Dilution fees are neutral to the bankroll's overall profit, so they go to bankroll investors in their entirety without bustabit taking a cut.
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