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Topic: bustabit.com -- The Social Gambling Game - page 67. (Read 293938 times)

full member
Activity: 235
Merit: 250
I was wondering why the site's autobot has a delay of one bet when i start it. And is there maybe a better bot made by someone else?

Yeah, there's a few around. Some of the players trade (and sell) the little scripts.  The builtin bot behaves weirdly if you activate it in the middle of a game that you're currently playing, if that's the issue you have?

Well i wasn't playing the game at that moment but did start the bot in the middle of a already running game. the next round it didnt start right away. its started the round after that one.
legendary
Activity: 1463
Merit: 1886
No matter how much I play it , no matter how much I know it . Whenever I read bustabit I will ALWAYS hear bustanut Cheesy

 Wink Well, at least that's better than the person who said he was continually reminded of "bustabitch"
sr. member
Activity: 616
Merit: 250

 No matter how much I play it , no matter how much I know it . Whenever I read bustabit I will ALWAYS hear bustanut Cheesy

 On the other hand , great branding name , keeping it rememberable like that.
legendary
Activity: 1463
Merit: 1886
I was wondering why the site's autobot has a delay of one bet when i start it. And is there maybe a better bot made by someone else?

Yeah, there's a few around. Some of the players trade (and sell) the little scripts.  The builtin bot behaves weirdly if you activate it in the middle of a game that you're currently playing, if that's the issue you have?
legendary
Activity: 1463
Merit: 1886
I get many lag ... latency is almost 1360 ms for your site ......

Is this on your end, perhaps? I'm pretty close to the server, but have latency under 100ms. Regardless, I'd highly advise you play exclusively with the auto-cashout to prevent any latency related issues, like not being able to cashout Smiley
hero member
Activity: 546
Merit: 500
I get many lag ... latency is almost 1360 ms for your site ......
full member
Activity: 235
Merit: 250
I was wondering why the site's autobot has a delay of one bet when i start it. And is there maybe a better bot made by someone else?
sr. member
Activity: 616
Merit: 250

 The difference between stunna and ryan/doog is that doog and ryan is here all the time , they talk they become friendly they chat , they are like one of us . Stunna on the other hand is the boss with cigar on his hand on a beach at some tropical island Cheesy He can't be bothered with coming down to our level for any reason.
legendary
Activity: 1988
Merit: 1007
We have 3 smart minds on the gambling section mainly.
Doog,Stunna,and then Ryan 

So true. Dooglus never fails to amaze me, either. He does a lot of in-depth analyses that just blow my mind and it's a great pleasure to read his work in regards to gambling and such.

I don't have a lot of experience with Stunna...

Ryan, though, is one of my newer favorites (I haven't known about him/BAB/MP that long, but he's shown himself to be a bright, helpful individual).
legendary
Activity: 2884
Merit: 1117
We have 3 smart minds on the gambling section mainly.
Doog,Stunna,and then Ryan 
sr. member
Activity: 616
Merit: 250

 Ryan reminds me the early days of Doog and just-dice
legendary
Activity: 1988
Merit: 1007
I realized just-dice value is also based off of future earnings. That's because they're use an altcoin that is freely traded.

Yeah it'll be interesting how people value it.

The casino buying shares back makes a lot of sense. As for issuing shares that'll need to be a bit structured. While the money is going straight into the bankroll and increasing NAV for everyone, it's also diluting everyone's equity by a bit.

What Tothemoon does is offer shares at x price. Dividends are then given as new shares (i.e., let's say I bought 1 share for 1 BTC, and my dividend would be 0.1 BTC. I'd now have 1.1 shares). They can then be sold back at NAV (1 BTC/share), so you can cash in that 0.1 share for 0.1 BTC and withdraw it.

This makes things a lot easier than trying to manage things atomically, I think.
hero member
Activity: 756
Merit: 500
I realized just-dice value is also based off of future earnings. That's because they're use an altcoin that is freely traded.

Yeah it'll be interesting how people value it.

The casino buying shares back makes a lot of sense. As for issuing shares that'll need to be a bit structured. While the money is going straight into the bankroll and increasing NAV for everyone, it's also diluting everyone's equity by a bit.
legendary
Activity: 1988
Merit: 1007
First of all, I'll just make it clear this is purely hypothetical. I haven't yet decided anything

An equity share idea is a good idea. And this way you don't even need to take a cut, you just own all the shares.

One thing is that you need to make it transparent what one equity share is worth.

Well, that is something the market would need to decide. But I would be totally transparent about networth, bankroll, etc

For instance, someone recently won almost 30 BTC which reduces our assets by that amount. But it's unclear how that would affect a share valuation (perhaps it's so fuzzy that it makes no impact, perhaps people panic sell, perhaps people buy as it's a sign of healthy activity).


Quote
And actually one thing with equity shares is that you have the chance to lose money. It's actually a completely different business model. With something like Just-dice your money is completely liquid. It's like a savings account, you make profit when the casino wins. And you give a chunk of those profits to the bank.

But an equity is completely different. What you're buying takes into account future returns it's not just based on net value. While you're not taking a 10% cut you'll be selling the premium which could be high.

Yes, that's a big difference. I would only be interested if there could be a robust secondary market, but a large amount of the value will be derived from expected future returns.

Quote
One thing I want clarification about is the difference you'll make in the company and you. Currently you have a 100% stake in the bankroll. When the company decides to sell shares will they be selling new shares or selling your shares? When the company buys shares, will dividends on those shares be going towards the companies NAV or will the be distributed to you?

I'm open to suggestions, but I was thinking that I would start off with 100% equity (what I currently have) and have the company start issuing shares, which it sells on the market. The money the company raises will get put into the bankroll, which will in-turn increase the casino limits. Then I could personally buy or sell, just like any other investor. If the company is holding shares at the time of dividends, the money would just go towards the NAV.

Quote
EDIT: I think bittrex and poloniex support having coloured coins on their exchange.
Ohh! I didn't know. I'll check that out now, that's great to hear

Edit: bittrex is out:

Quote from: bittrex
Note that we cannot list currencies where its primary purpose is to support gambling, illegal drug sales, or any other activity that is illegal in our jurisdiction.  We also cannot list currencies that would be construed as a security such as digital currencies that promise/market profits or represent shares of a company.


Havelock Investments may work for this, as they're a long-standing site and have a decent amount of users. An alternative would be to use the Nxt platform (which is both decentralized and has a built-in dividend function).
legendary
Activity: 1463
Merit: 1886
First of all, I'll just make it clear this is purely hypothetical. I haven't yet decided anything

An equity share idea is a good idea. And this way you don't even need to take a cut, you just own all the shares.

One thing is that you need to make it transparent what one equity share is worth.

Well, that is something the market would need to decide. But I would be totally transparent about networth, bankroll, etc

For instance, someone recently won almost 30 BTC which reduces our assets by that amount. But it's unclear how that would affect a share valuation (perhaps it's so fuzzy that it makes no impact, perhaps people panic sell, perhaps people buy as it's a sign of healthy activity).


Quote
And actually one thing with equity shares is that you have the chance to lose money. It's actually a completely different business model. With something like Just-dice your money is completely liquid. It's like a savings account, you make profit when the casino wins. And you give a chunk of those profits to the bank.

But an equity is completely different. What you're buying takes into account future returns it's not just based on net value. While you're not taking a 10% cut you'll be selling the premium which could be high.

Yes, that's a big difference. I would only be interested if there could be a robust secondary market, but a large amount of the value will be derived from expected future returns.

Quote
One thing I want clarification about is the difference you'll make in the company and you. Currently you have a 100% stake in the bankroll. When the company decides to sell shares will they be selling new shares or selling your shares? When the company buys shares, will dividends on those shares be going towards the companies NAV or will the be distributed to you?

I'm open to suggestions, but I was thinking that I would start off with 100% equity (what I currently have) and have the company start issuing shares, which it sells on the market. The money the company raises will get put into the bankroll, which will in-turn increase the casino limits. Then I could personally buy or sell, just like any other investor. If the company is holding shares at the time of dividends, the money would just go towards the NAV.

Quote
EDIT: I think bittrex and poloniex support having coloured coins on their exchange.
Ohh! I didn't know. I'll check that out now, that's great to hear

Edit: bittrex is out:

Quote from: bittrex
Note that we cannot list currencies where its primary purpose is to support gambling, illegal drug sales, or any other activity that is illegal in our jurisdiction.  We also cannot list currencies that would be construed as a security such as digital currencies that promise/market profits or represent shares of a company.
hero member
Activity: 756
Merit: 500
An equity share idea is a good idea. And this way you don't even need to take a cut, you just own all the shares.

One thing is that you need to make it transparent what one equity share is worth.

And actually one thing with equity shares is that you have the chance to lose money. It's actually a completely different business model. With something like Just-dice your money is completely liquid. It's like a savings account, you make profit when the casino wins. And you give a chunk of those profits to the bank.

But an equity is completely different. What you're buying takes into account future returns it's not just based on net value. While you're not taking a 10% cut you'll be selling the premium which could be high.

One thing I want clarification about is the difference you'll make in the company and you. Currently you have a 100% stake in the bankroll. When the company decides to sell shares will they be selling new shares or selling your shares? When the company buys shares, will dividends on those shares be going towards the companies NAV or will the be distributed to you?

EDIT: I think bittrex and poloniex support having coloured coins on their exchange.
legendary
Activity: 1463
Merit: 1886
And we have blastoff!

legendary
Activity: 1463
Merit: 1886
All this said, if I accept investment it will prefer to not use the "bankroll investment" system. I tried that on MoneyPot, however am not particularly satisfied with how it shares the various risks and rewards among investors and operator. One model that I'd prefer to try, is selling equity shares where money from the equity sale goes to fund the bankroll. If the company believes the shares are undervalued, it could use money from the bankroll to buy-back some of the shares and likewise if it needs to increase it's bankroll it could sell off more of itself.  And when money is to be taken out of the bankroll, it'll be through dividends on the share.

Probably the biggest thing stopping me, at the moment is just the lack of a robust secondary market for such shares. I haven't heard great things about havelock and crypostocks, and would like to avoid using some altcoin based approach. I read the OpenAssets specification, and it looks quite appealing but without a great secondary exchange it's a bit too difficult.

If anyone has any suggestions or experience, I'd be interested in hearing it.
legendary
Activity: 1463
Merit: 1886
Just to clarify the investment situation. Currently I do privately bankroll it, and would be interested in taking investors in the future of some shape to increase the max-win and max-bet. I have unfortunately had to (multiple-times) turn back larger players interested in raising the limits, simply because the limits are too low. The reason I have in the past (and continue to) take money out of the bankroll on occasion is just to reduce the amount of money I have at risk and spend on expenses and what not.

As arallmuus said, the moneypot investment feature isn't very suitable for bustabit as bustabit is very non-atomic, and moneypot allows investors to invest and divest at all times (including other constraints) which make it difficult. It's worth noting at the moment, bustabit is 100% separate from MoneyPot with the only common thing a shared owner =)

hero member
Activity: 896
Merit: 1000
He already said he hopes to add an investment feature to the site, so I'm not sure where you're getting your information from. I wouldn't speak for him unless you know what he's already said, Smiley.

Not true at all, I read this once on Bustabit's chatbox that he will be planning to put up investment feature in the future as the reasoning behind this would be that he rather wants to get little profit by risking a bit of his BTC rather than getting all of it by risking a whole lot BTC ( another person that read this could confirm this as well )

I didn't know that. Thanks for your information.

I probably got the (wrong) impression that the current max profit is high enough from https://bitcointalksearch.org/topic/m.11979078 that he is reducing the max profit.
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