Topic: bustabit.com -- The Social Gambling Game - page 23. (Read 293500 times)

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!

Dayummmmm.

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.

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

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?

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

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.

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.

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, 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?

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.

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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.

Yup!

Edit:

Yeah, there's already a half-assed one. It's pretty crappy as it doesn't have a matching engine (you either need to explicitly hit someones trade, or create one of your own). And to keep it simple, all order are "all or none". Improving it is something I eventually want to do, but something simple (along with a #trade channel) is probably good enough for quite a while

Paid in silver, I presume?

Innovative!


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%.


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.


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.


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

It's actually a little lower than 10% (but 10% is the theoretical max), I made an issue for showing it properly.

But anyway, this is a one-time fee and actually doesn't go to me .. but goes to existing investors (based on their stake). The way it works precisely is that if you invest 1 BTC, you get a stake as if you had invested 0.9 BTC and everyone gets diluted as if you had invested 0.9 BTC. Then the bankroll is increased by 1 BTC.

This means the dilution fee is actually 0-10%. Ideally I would have made it a flat 5% or so, however a flat fee would be abusable (you could fragment your investment to get some of your money back).

Ostensibly the high level purpose of the dilution fee is to to compensate previous investors for the fact they are now being diluted. But the hope is that there are some other benefits, like less fickle investors (i.e. investors that divest when they see a whale playing, as that's when I need investors the most) and some marketing benefits.



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?

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P.S. It's not spelled out, but the only fee that actually goes to me is a 10% profit cut from investors. So I think it's quite reasonable in that side

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

It will only be on the new game, otherwise there will be an insane silver-glut  (and not to mention, bustabit current supports 0% house edge bets so it's often pretty easy to inflate your wagered amounts if you're careful)


Well derived  My current thinking is that the most straight-forward is just a flat 1% house edge on all bets. That's what's on the dev site right now (although I haven't yet provided methodology, so you can't really prove it). My current plans  are to remove bonuses completely from the main game (and put that in a separate, much more pvp game with ~10% bonuses). I really hate to remove the bonuses and variable-house edge, but with the vast majority of bustabit players playing "bonus oblivious" I can't help but feel I'm doing them a disservice.

With the new system, the effective house edge will be ~0.5% no matter how you play. 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%. 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%.

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

My hope is it'll be a fun little ecosystem

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


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.

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!

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?