Bustabit Under New Management | Bitcointalksearch.org

RHavar

legendary

Activity: 1463

Merit: 1886

Quote from: RGBKey on February 02, 2018, 09:00:02 PM

The idea that it's better to get in while the site is negative is a fallacy.

I'm going to disagree slightly. While the site certainly isn't more or less likely to make money, there is an extremely strong correlation with higher volumes. When players win money, they tend to be pretty happy and willing to put churn that money pretty heavily. And as an investor, the bankroll turn over is the primary thing you really care about.

But yeah, I wouldn't really use it as a signal to invest on bustabit if for nothing other than the 10% dilution fee on bustabit means it's only a sensible long term investing option. So even if you expect higher than usual turn over in the next few days, it doesn't change much.

devans

sr. member

Activity: 528

Merit: 368

I've put together a short overview of what's new in version 2 of bustabit in its new announcement thread. I'll post all news and future updates there as well.

JackpotRacer

legendary

Activity: 1974

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All Games incl Racer and Lottery game are Closed

Quote from: RGBKey on February 02, 2018, 09:00:02 PM

Quote from: adaseb on February 02, 2018, 04:36:53 AM

Quote from: RGBKey on February 01, 2018, 01:37:08 AM

Quote from: oHnK on January 31, 2018, 12:36:04 PM

Quote from: Paractor on January 31, 2018, 11:47:42 AM

Quote from: cannycassiopeia on January 29, 2018, 02:56:25 PM

We're gonna miss you, Ryan. I had a great time gambling at Bustabit back in 2016. I even invested BTC in your ICO back then. Too bad not enough funds was raised back then. Anyway, I forgot to say thanks for the bonuses you sent in spite of the failed ICO.

Bustabit was great during the lull moments when coins at Poloniex weren't doing anything.

Bustabit had an ICO?

I wonder what the early investors got during those days and now that they moved on to version 2 of the site now and under new management.

I also heard they have an investment option as that bustadice put in place when they started the site.

Didnt you read it didnt raised enough fund? yes bustabit v2 now have investment option as well. Similar to bustadice , it has 10 % dilution fee to motivate people to stay longer with them. Site currently has 1700+ bitcoin and site's profit is at -99 btc. It is about the best time to put your money in before the variance swing to investor

That's not how variance works. Probability works on future events, not on events that have already happened. The probability of Busta losing another 99 BTC is the same as it was before it happened. Don't fall into that mental trap.

Yes you are correct but you need to realize that in the long run the casino always wins. Hence you can assume that if the site stays open long enough the profit will be at least at break even.

So in that scenario you are actually at an advantage to get in when it's at a negative rather than at a positive.

The idea that it's better to get in while the site is negative is a fallacy. The site has already lost the money. The chances it will gain or lose money now are more or less equal, minus the effects of the house edge. You are not "more likely" to make money while the site is in negative profit, and you are not "less likely" to lose money when the site has performed better than expected.

in short I would say it is just the law of the large numbers and every action to invest and divest according the current up or down situation is IMO gambling

RGBKey

hero member

Activity: 854

Merit: 658

rgbkey.github.io/pgp.txt

Quote from: adaseb on February 02, 2018, 04:36:53 AM

Quote from: RGBKey on February 01, 2018, 01:37:08 AM

Quote from: oHnK on January 31, 2018, 12:36:04 PM

Quote from: Paractor on January 31, 2018, 11:47:42 AM

Quote from: cannycassiopeia on January 29, 2018, 02:56:25 PM

We're gonna miss you, Ryan. I had a great time gambling at Bustabit back in 2016. I even invested BTC in your ICO back then. Too bad not enough funds was raised back then. Anyway, I forgot to say thanks for the bonuses you sent in spite of the failed ICO.

Bustabit was great during the lull moments when coins at Poloniex weren't doing anything.

Bustabit had an ICO?

I wonder what the early investors got during those days and now that they moved on to version 2 of the site now and under new management.

I also heard they have an investment option as that bustadice put in place when they started the site.

Didnt you read it didnt raised enough fund? yes bustabit v2 now have investment option as well. Similar to bustadice , it has 10 % dilution fee to motivate people to stay longer with them. Site currently has 1700+ bitcoin and site's profit is at -99 btc. It is about the best time to put your money in before the variance swing to investor

That's not how variance works. Probability works on future events, not on events that have already happened. The probability of Busta losing another 99 BTC is the same as it was before it happened. Don't fall into that mental trap.

Yes you are correct but you need to realize that in the long run the casino always wins. Hence you can assume that if the site stays open long enough the profit will be at least at break even.

So in that scenario you are actually at an advantage to get in when it's at a negative rather than at a positive.

The idea that it's better to get in while the site is negative is a fallacy. The site has already lost the money. The chances it will gain or lose money now are more or less equal, minus the effects of the house edge. You are not "more likely" to make money while the site is in negative profit, and you are not "less likely" to lose money when the site has performed better than expected.

Lionidas

hero member

Activity: 1008

Merit: 1012

So if a site has -99 bitcoin in site profit but the bankroll is over 1700 bitcoin then wouldn't that amount just be deducted from the bankroll to begin with? Huh

And this would be the best time to invest in a site?
So the idealogy would be that the site would recover these losses eventually so is this the way of thinking to most?
Cause I would like to know if it is just me. Cheesy

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: Kakmakr on February 01, 2018, 02:41:47 AM

RHavar, it has been a absolute pleasure playing at your site and probably the highest adrenaline rush you can have online.

I use Bustabit as a use case example for Bitcoin, when I introduce new people to the technology. Some of them needs to see the practical application of the technology to see the bigger picture.

I hope the NEW management will add some nice new features to revitalize the concept in V2. ^smile^

Hope you will bring us some more unique and innovative projects like Bustabit, very soon. Good luck with your new journey!

What feature can you expect from gambling site that support its technology? I think everyone will think the same thing here, whether it is trading or gambling site, the most important thing is onyly their blockchain, so if you want to show your friends things that support on gambling, then show them how blockchain really works on gambling site

I can't think about what feature that they really need to add because it seems perfect to me here for current bustabit, may be some new design and new UI will be good

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: RGBKey on February 01, 2018, 01:37:08 AM

Quote from: oHnK on January 31, 2018, 12:36:04 PM

Quote from: Paractor on January 31, 2018, 11:47:42 AM

Quote from: cannycassiopeia on January 29, 2018, 02:56:25 PM

We're gonna miss you, Ryan. I had a great time gambling at Bustabit back in 2016. I even invested BTC in your ICO back then. Too bad not enough funds was raised back then. Anyway, I forgot to say thanks for the bonuses you sent in spite of the failed ICO.

Bustabit was great during the lull moments when coins at Poloniex weren't doing anything.

Bustabit had an ICO?

I wonder what the early investors got during those days and now that they moved on to version 2 of the site now and under new management.

I also heard they have an investment option as that bustadice put in place when they started the site.

Didnt you read it didnt raised enough fund? yes bustabit v2 now have investment option as well. Similar to bustadice , it has 10 % dilution fee to motivate people to stay longer with them. Site currently has 1700+ bitcoin and site's profit is at -99 btc. It is about the best time to put your money in before the variance swing to investor

That's not how variance works. Probability works on future events, not on events that have already happened. The probability of Busta losing another 99 BTC is the same as it was before it happened. Don't fall into that mental trap.

Yes you are correct but you need to realize that in the long run the casino always wins. Hence you can assume that if the site stays open long enough the profit will be at least at break even.

So in that scenario you are actually at an advantage to get in when it's at a negative rather than at a positive.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

RHavar, it has been a absolute pleasure playing at your site and probably the highest adrenaline rush you can have online.

I use Bustabit as a use case example for Bitcoin, when I introduce new people to the technology. Some of them needs to see the practical application of the technology to see the bigger picture.

I hope the NEW management will add some nice new features to revitalize the concept in V2. ^smile^

Hope you will bring us some more unique and innovative projects like Bustabit, very soon. Good luck with your new journey!

RGBKey

hero member

Activity: 854

Merit: 658

rgbkey.github.io/pgp.txt

Quote from: oHnK on January 31, 2018, 12:36:04 PM

Quote from: Paractor on January 31, 2018, 11:47:42 AM

Quote from: cannycassiopeia on January 29, 2018, 02:56:25 PM

We're gonna miss you, Ryan. I had a great time gambling at Bustabit back in 2016. I even invested BTC in your ICO back then. Too bad not enough funds was raised back then. Anyway, I forgot to say thanks for the bonuses you sent in spite of the failed ICO.

Bustabit was great during the lull moments when coins at Poloniex weren't doing anything.

Bustabit had an ICO?

I wonder what the early investors got during those days and now that they moved on to version 2 of the site now and under new management.

I also heard they have an investment option as that bustadice put in place when they started the site.

Didnt you read it didnt raised enough fund? yes bustabit v2 now have investment option as well. Similar to bustadice , it has 10 % dilution fee to motivate people to stay longer with them. Site currently has 1700+ bitcoin and site's profit is at -99 btc. It is about the best time to put your money in before the variance swing to investor

That's not how variance works. Probability works on future events, not on events that have already happened. The probability of Busta losing another 99 BTC is the same as it was before it happened. Don't fall into that mental trap.

oHnK

hero member

Activity: 1414

Merit: 574

Quote from: Paractor on January 31, 2018, 11:47:42 AM

Quote from: cannycassiopeia on January 29, 2018, 02:56:25 PM

We're gonna miss you, Ryan. I had a great time gambling at Bustabit back in 2016. I even invested BTC in your ICO back then. Too bad not enough funds was raised back then. Anyway, I forgot to say thanks for the bonuses you sent in spite of the failed ICO.

Bustabit was great during the lull moments when coins at Poloniex weren't doing anything.

Bustabit had an ICO?

I wonder what the early investors got during those days and now that they moved on to version 2 of the site now and under new management.

I also heard they have an investment option as that bustadice put in place when they started the site.

Didnt you read it didnt raised enough fund? yes bustabit v2 now have investment option as well. Similar to bustadice , it has 10 % dilution fee to motivate people to stay longer with them. Site currently has 1700+ bitcoin and site's profit is at -99 btc. It is about the best time to put your money in before the variance swing to investor

Paractor

full member

Activity: 274

Merit: 133

Quote from: cannycassiopeia on January 29, 2018, 02:56:25 PM

We're gonna miss you, Ryan. I had a great time gambling at Bustabit back in 2016. I even invested BTC in your ICO back then. Too bad not enough funds was raised back then. Anyway, I forgot to say thanks for the bonuses you sent in spite of the failed ICO.

Bustabit was great during the lull moments when coins at Poloniex weren't doing anything.

Bustabit had an ICO?

I wonder what the early investors got during those days and now that they moved on to version 2 of the site now and under new management.

I also heard they have an investment option as that bustadice put in place when they started the site.

ajmapalo22

full member

Activity: 266

Merit: 122

congrats to the new management I hope this will lead to a more develop games for bustabit as well as taking into considerations those items that gamblers wants but not present in bustadice with that the two gambling sites can surely gets more players and to those who are not satisfied in one gambling site can try the other while not harming the income of the owners.

cowbay

member

Activity: 77

Merit: 10

Quote from: dooglus on January 29, 2018, 02:31:55 AM

Quote from: cowbay on January 29, 2018, 02:15:57 AM

(please bring back pevpot!).

Ugh. Don't remind me!

Thanks doog

DogecoinMachine

legendary

Activity: 2895

Merit: 1135

www.Crypto.Games: Multiple Games, Multiple Coins

Congratz! What's next?

cannycassiopeia

full member

Activity: 266

Merit: 105

We're gonna miss you, Ryan. I had a great time gambling at Bustabit back in 2016. I even invested BTC in your ICO back then. Too bad not enough funds was raised back then. Anyway, I forgot to say thanks for the bonuses you sent in spite of the failed ICO.

Bustabit was great during the lull moments when coins at Poloniex weren't doing anything.

cazkooo

legendary

Activity: 1540

Merit: 1013

Quote from: Jackling on January 29, 2018, 08:22:45 AM

congratulations ryan!

are you gonna tell the price? i was thinkking maybe you can share %2-3 to your die hard users who has minus on graphs...

Not gonna happen

Quote from: cryptotricks on January 29, 2018, 12:46:56 AM

Still Bustabit and Bustadice will operate as two different entities or the are merging to continue with Bustabit v2?

It is operating as two different website for now. I was expecting this as well, probably some sort of feature where player can transfer balance from bustadice to bustabit or vice versa. Some kind like tipping mechanism because joined login is probably not going to happen

Jackling

sr. member

Activity: 357

Merit: 250

congratulations ryan!

are you gonna tell the price? i was thinkking maybe you can share %2-3 to your die hard users who has minus on graphs...

jpcfan

hero member

Activity: 905

Merit: 502

I miss dooglus

Quote from: dooglus on January 29, 2018, 02:31:55 AM

Quote from: cowbay on January 29, 2018, 02:15:57 AM

(please bring back pevpot!).

Ugh. Don't remind me!

lol, that made me laugh tooo Cheesy

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: cowbay on January 29, 2018, 02:15:57 AM

(please bring back pevpot!).

Ugh. Don't remind me!

cowbay

member

Activity: 77

Merit: 10

Ryan, best of luck in your future endeavors. You are one of very few trustworthy people in bitcoinland, and I look forward to your next project (please bring back pevpot!).

Topic: Bustabit Under New Management (Read 1268 times)