bustabit.com -- The Social Gambling Game - page 22.

Henkkaa

full member

Activity: 210

Merit: 100

Quote from: libertynow on March 06, 2017, 04:10:25 PM

I'm now selling the code to "EDGE" bot. I closed the bot last week for a variety of reasons not related to it's success. You can the see forum history here: https://nxtforum.org/index.php?topic=13275.msg229488#msg229488 and the profit history here: https://www.bustabit.com/user/EDGE_NXTAE PM me with an offer/questions if you're interested

What kind of return does this actually provide? The amount it has won so far must be unsustainable over the long run. If it would make 2,000,000 bits in EV over 56 games, you wouldn't be selling it.

So what does the bot do? I assume it uses a strategy to overcome to house edge with the 1% bonus system. If I left it running 24/7, how much returns could I expect from a 0.1btc capital!

Dogedigital

legendary

Activity: 1330

Merit: 1000

Quote from: ?? on ??

Wow! thanksfinland turned 25 bits into 10 BTC with an amazing 400,000.00x cashout. Totally shattering the previous record from cowbay of a 50,001x cashout.

Dayummmmm.

libertynow

full member

Activity: 145

Merit: 100

I'm now selling the code to "EDGE" bot. I closed the bot last week for a variety of reasons not related to it's success. You can the see forum history here: https://nxtforum.org/index.php?topic=13275.msg229488#msg229488 and the profit history here: https://www.bustabit.com/user/EDGE_NXTAE PM me with an offer/questions if you're interested

Henkkaa

full member

Activity: 210

Merit: 100

Why are there dilution fees? I kinda want to invest in a trusted casino, but losing 10% of mu investment right away is bad, especially given that the average edge is only 0,38%. Would take ages to earn back that 10% and then some.

I would also like to know, what valors are? Are they some sort of upgrade to the 1% bonus rewarding system?
Is there a way to overcome house edge and make profit with a betting script, since there is that bonus system? What would be the minimum bet to get profit from the bonus?

DarkStar_

legendary

Activity: 2772

Merit: 3284

Quote from: RGR991 on March 05, 2017, 05:37:20 PM

So in the new version if the 0 is removed(no more bonus) and you get 1 valor per 100 bits wagered.

What stops someone from max betting at 1.00x(no chance of losing) to get risk free valor.

Minimum multiplier in the dev build is a 1.01x multiplier, so people can't do that any more.

RGR991

member

Activity: 99

Merit: 10

So in the new version if the 0 is removed(no more bonus) and you get 1 valor per 100 bits wagered.

What stops someone from max betting at 1.00x(no chance of losing) to get risk free valor.

Cherylstar86

sr. member

Activity: 1484

Merit: 253

Quote from: ?? on ??

Quote from: kolloh on March 04, 2017, 01:51:10 AM

You mentioned that investors profits will be automatically divested each day, would you have to pay the dilution fee each time you reinvest those profits?

Yup

But all in all it won't make much difference (you pay dilution fees when you re-invest, but collect them when other people re-invest..)

Yeah thats the nature of the game, so you better follow and participate with the practices of the required dilution fees and if you don't agree with it? Better stop playing with their games. I know profits is always there all you have to do is be patient all the time and don't over react.

kolloh

legendary

Activity: 1736

Merit: 1023

Quote from: DarkStar_ on March 03, 2017, 08:23:07 PM

Quote from: ?? on ??

BTW I'm still trying to figure out what a good dilution fee is, I'm thinking of anywhere from 5% to 25%. Any thoughts?

I would go 2% to 5%. It's high enough to prevent day trading (for most people anyway. Losing 0.5 BTC (Assuming you were a 10 BTC investor) every time a whale shows up is quite heavy), but not too high that new investors won't enter, especially large ones. If a 100 BTC investor showed up and saw a 10% dilution fee, I'm not sure if they would still invest because losing 10 BTC instantly really sucks, and the bankroll would probably stay similar to the amount it was before the grace period is over.

You need to add something showing the max bet on the game page, or a notice if it's too high and what the max is. I tried betting 1000 tBTC with auto cashout at 1.01x, which couldn't be placed but didn't return an error.

Yeah, I think that if the dilution fee is too high, it probably would turn away some investors after the grace period. You mentioned that investors profits will be automatically divested each day, would you have to pay the dilution fee each time you reinvest those profits?

DarkStar_

legendary

Activity: 2772

Merit: 3284

Quote from: ?? on ??

BTW I'm still trying to figure out what a good dilution fee is, I'm thinking of anywhere from 5% to 25%. Any thoughts?

I would go 2% to 5%. It's high enough to prevent day trading (for most people anyway. Losing 0.5 BTC (Assuming you were a 10 BTC investor) every time a whale shows up is quite heavy), but not too high that new investors won't enter, especially large ones. If a 100 BTC investor showed up and saw a 10% dilution fee, I'm not sure if they would still invest because losing 10 BTC instantly really sucks, and the bankroll would probably stay similar to the amount it was before the grace period is over.

You need to add something showing the max bet on the game page, or a notice if it's too high and what the max is. I tried betting 1000 tBTC with auto cashout at 1.01x, which couldn't be placed but didn't return an error.

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: ?? on ??

the only fee that actually goes to me is a 10% profit cut from investors

Paid in silver, I presume?

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: ?? on ??

My current thinking is that the most straight-forward is just a flat 1% house edge on all bets.

Innovative! Wink

Quote from: ?? on ??

When players do well and win money, there will be a glut of valor on the market (and no new silver) so I expect the house edge will be rather closer to 1%.

That's only the case if the winning players insist of selling their valor instantly even though the price is low. A smart player (yeah, I know) would wait for others to lose, increasing the supply of silver, and bolstering the demand for valor. In the long run the price should return to 0.5 bits per valor, if not more, and so the house edge for the patient player should be no more than 0.5%.

Quote from: ?? on ??

And when players lose money, there will be a glut of silver on the market (investors wanting to realize their profits) so the silver be worth more and the house edge will be closer to 0%.

Similarly smart investors will be unwilling to part with their silver too cheaply, understanding that demand for silver will pick up when it becomes rarer than valor.

Quote from: ?? on ??

Smart traders I imagine will want to take advantage of this and "time arbitrage" the value of silver and valor to ~0.5 bits.

So it would be +EV to buy any silver or valor that is on sale below 0.4 bits, with a view to selling it at 0.5 bits later. That makes sense.

Quote from: ?? on ??

My hope is it'll be a fun little ecosystem

Will there be an exchange built in to the game site?

Coingiver

newbie

Activity: 4

Merit: 0

You'll be paying a dilution fee of "10%" when investing. why is it so high ryan ? Is this used for the Faucet ? 10% Huh

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: ?? on ??

their profits are divested in the form of valor, and they need to either trade or gamble to get silver to convert it to bits, to reinvest

So 1 silver combines with 1 valor to make 1 bit, causing the silver and valor to vanish?

Quote from: ?? on ??

From gamblers point of view, the new setup is pretty great. You effectively will get a ~50% off the house edge, selling your silver to investors

That 50% number would depend on the market price of silver wouldn't it? Since valor is earned at a 1% rate (by definition), and silver is earned at a 0.5% rate (assuming an average 0.5% house edge) there will be roughly twice as much valor as silver in the world. That would lead to a glut of valor in the world, driving its price ever downwards.

Maybe the average house edge is being increased to 1% so the supply or silver matches that of valor?

Anyway it's an interesting concept.

kolloh

legendary

Activity: 1736

Merit: 1023

That is a pretty interesting way of handling investing and fusing investors and gamblers together a bit more. I'm wondering how much of an impact this would have on the bankroll and max wins but curious to see how it it goes. Definitely seems like a nice added bonus for gamblers though!

DarkDays

legendary

Activity: 2030

Merit: 1189

Quote from: ?? on ??

Gamblers automatically get 1 silver for every 100 bits they wager.

When this is implemented on the main game, will it be retroactive? For example, if I have 50,000,000 bits wagered over the lifetime of my account, will I automatically get 500,000 silver?

fiscorcle

hero member

Activity: 994

Merit: 502

Quote from: ?? on ??

So due to popular demand, I'm releasing the current dev branch of bustabit v2:

http://dev.bustabit.com

It uses bitcoin testcoins instead of real bitcoins, and comes with a faucet (you can also google "bitcoin testcoin faucet") and deposit them in your account.

You can find the source here:
https://github.com/bustabit/bustabit-client

It's completely full of bugs, and half-done stuff. The best thing is to make issues on that repository -- make note of your bustabit username, so you can be rewarded with some vanity stuff in the indeterminate future.

Also pull requests accepted Grin

Edit: in an unrelated note, here's a game dump of the last 10M plays: https://ln.sync.com/dl/0c20bf440#78hvmigq-xjiymwmj-vqcdt46n-is8vhdnc

Much appreciated!

DarkStar_

legendary

Activity: 2772

Merit: 3284

New version of bustabit looks pretty cool, and the "valor" seems interesting. Why are investor profits realized as silver and need to be fused with valor to get BTC though? Doesn't make a whole lot of sense to me.

You also noted that the database will be reset frequently, that means testnet coin balances will be lost as well as accounts, right?

Here's an small issue I found (I don't like using github, so I'll post it here)

https://i.imgur.com/i9dFPEz.gifv

Gives an error when you try to bet a multiplier of 1.1x, but still makes the bet. Same happens with 1.01x, haven't tested others yet.

I also tried placing a bet with 1k tBTC as well as 100tBTC at 1.01x, but it would say "Placing Bet" and then do nothing.

Edit: Does instant withdraw do anything? I added the 10 bits, but my withdraw was still in the queue and I had to pay another 100 bits.

fiscorcle

hero member

Activity: 994

Merit: 502

Quote from: devans on February 24, 2017, 10:13:15 AM

Quote from: fiscorcle on February 24, 2017, 09:44:33 AM

Nah, the strategy tester doesn't track bonuses. No point in using that if I want to test if my script can be +EV...

Perhaps we've misunderstood each other. I wasn't talking about a strategy tester, but suggesting that you run your script locally and connect it directly to bustabit instead of through the browser.

Oh I see what you mean. Yeah, that's the next step. Don't have time with work right now unfortunately. Plus I actually want to run some analysis on the game results, but it's impossible to get a download of the game files

devans

sr. member

Activity: 528

Merit: 368

Quote from: fiscorcle on February 24, 2017, 09:44:33 AM

Nah, the strategy tester doesn't track bonuses. No point in using that if I want to test if my script can be +EV...

Perhaps we've misunderstood each other. I wasn't talking about a strategy tester, but suggesting that you run your script locally and connect it directly to bustabit instead of through the browser.

The_prodigy

hero member

Activity: 924

Merit: 500

This was my first gambling website where i learn on how to gambling without reading mechanics i just follow the graph and test with the faucet (way back time) i always earn bits from faucet where i use that to bet and win bits now im deposit atleast 0.1 per week and making my bankrole doubled then withdrew i love to see my net profit positive.

Topic: bustabit.com -- The Social Gambling Game - page 22. (Read 293931 times)