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Topic: bustadice – Next Generation Dice - page 27. (Read 37537 times)

sr. member
Activity: 528
Merit: 368
November 14, 2018, 03:40:12 AM
I noticed that the bankroll investing maximum leverage is decreased to 2:1 today and the dilution fee is 2% now. Is there a reason behind this change?

Usually I post an overview of the changes on the day of the update. I apologize for only doing it now.

For a brief moment the FAQ incorrectly said 2:1, but the maximum leverage has actually only been reduced to 3:1. As bustadice now has the largest bankroll of any Bitcoin casino at nearly 4,900 BTC, my focus is on achieving a stable bankroll rather than an even larger one. In order to do that I want to encourage long-term investments and discourage leveraging. Raising the dilution fee accomplishes both and decreasing the offsite caps prevents investors from (ab)using the offsite system to leverage by too much.

It goes without saying that nobody is being margin-called or forced to divest. The new limits only affect any new investments or changes made to existing investments.
hero member
Activity: 1708
Merit: 541
November 12, 2018, 09:00:43 AM
I noticed that the bankroll investing maximum leverage is decreased to 2:1 today and the dilution fee is 2% now. Is there a reason behind this change?
legendary
Activity: 1834
Merit: 1008
November 10, 2018, 12:00:29 PM
bustadice and bustabit are both owned by myself and share some code. I'm not in dispute with BetKing and Dean doesn't owe me anything. Since it doesn't affect bustadice I kindly ask you to discuss it in a more appropriate thread.
A very nice response. Now that you are one of the trusted members in this forum and Bustadince has establish itself in the heart of many of us here because of your sincerity and hard work I believe bustabit is going to also become great in future.  I came across it for the first time and I am heading to the site to find opportunities over there.  May you be increase sir.

What do you mean? I believe bustabit is the pioneer of every single crash game that you played nowadays and now they have a newer version as I recall. So if you think bustadice is going to be great in the future, then you must already be wrong. Just because of having bustabit in the first place then they can create their bustadice. Both are a great sites so if you want to get a crash game, you can go bustabit and for dice is bustadice. This is pretty easy yo remember
sr. member
Activity: 882
Merit: 282
November 08, 2018, 02:28:47 AM
bustadice and bustabit are both owned by myself and share some code. I'm not in dispute with BetKing and Dean doesn't owe me anything. Since it doesn't affect bustadice I kindly ask you to discuss it in a more appropriate thread.
A very nice response. Now that you are one of the trusted members in this forum and Bustadince has establish itself in the heart of many of us here because of your sincerity and hard work I believe bustabit is going to also become great in future.  I came across it for the first time and I am heading to the site to find opportunities over there.  May you be increase sir.
legendary
Activity: 2534
Merit: 1713
Top Crypto Casino
October 30, 2018, 12:20:56 PM
bustadice and bustabit are both owned by myself and share some code. I'm not in dispute with BetKing and Dean doesn't owe me anything. Since it doesn't affect bustadice I kindly ask you to discuss it in a more appropriate thread.

I will post here in the Bustabit thread I just found, hopefully it will be a more appropriate thread: https://bitcointalksearch.org/topic/bustabit-the-original-crash-game-2897545

Thank you
sr. member
Activity: 528
Merit: 368
October 30, 2018, 12:16:06 PM
bustadice and bustabit are both owned by myself and share some code. I'm not in dispute with BetKing and Dean doesn't owe me anything. Since it doesn't affect bustadice I kindly ask you to discuss it in a more appropriate thread.
legendary
Activity: 2534
Merit: 1713
Top Crypto Casino
October 30, 2018, 11:23:19 AM
What is the connection between Bustabit and Bustadice?

Both website templates look the same, are they owned by different people?

An allegation of Dean Nolan from betking owing 2 BTC for outstanding licence fees has been made here:
https://bitcointalksearch.org/topic/m.47317090

And was listed here: https://www.bustabit.com/license.txt

After the allegation was made in the thread (https://bitcointalksearch.org/topic/m.47317090) betking was removed from the scammer list here:  https://www.bustabit.com/license.txt

It looks like to save himself from bad PR and as a direct result of the allegation being posted, the 2 BTC was paid by Dean Nolan. He refused to even acknowledge that post from game-protect too even though he responds in other threads. Something does not add up.

Can anybody shed any light on this please?

sr. member
Activity: 952
Merit: 284
In love with Bitcoin!! 💓💕
October 18, 2018, 09:01:33 AM
But on the invest page there are two options online and offsite and I am getting a bit confused there. Where do I put my BTC?
Just look at "Overview" on investing page (https://bustadice.com/invest) - "Onsite bankroll" value constantly changes, but "Offsite bankroll" does not change at all. I think, "onsite" investment more profitable, but riskier; "offsite" - stabler, but less profitable.

I invested on August 27th 0.4 btc, now i see 0.40681439 btc in my stats. Better than nothing nevertheless.
Thanks for the info, especially those numbers. So that means around 1.7% profit in around 17 days. I guess that's how far a genuine, passive and less risky investment can get you.

"Onsite bankroll" value constantly changes, but "Offsite bankroll" does not change at all. I think, "onsite" investment more profitable, but riskier; "offsite" - stabler, but less profitable.

Hm, not quite. The onsite is constantly changing, because it represents how much money is "physically" in the casino bankroll. So if someone loses 100 satoshis gambling, it'll go up by 99.75 satoshis (the difference between the two is commissions which goes direct into Dans pocket). So it is guaranteed to be constantly fluctuating, as people are literally gambling against it.

The offsite however will only[1] change when investors explicitly request that it is it changed on their behalf. This probably doesn't happen much as bustadice discourages changing your exposure by charging a dilution fee (I think it's 1 or 2% now) by what ever amount you increase it.

Now 1 BTC in offsite and 1 BTC in onsite investment will have the exact same return. The difference is 1 bitcoin in onsite represents what you have physically deposited on site, and the 1 bitcoin in offsite represents what you're risking but haven't deposited.  The big advantage of using onsite is that you never need to worry about your position being margin-called (you already have all your money there) and can completely passively invest. The big advantage of offsite is that you're keeping your money in your own wallet, so if there was a hypothetical exit-scam you wouldn't lose it.

It's quite an elegant system, but honestly a bit too complex I think. For 99% of people, I think they'd be better off sticking purely to onsite.

Thanks for the details. But I want to know how come onsite and offsite have same returns when online investing is more risky?
staff
Activity: 3472
Merit: 4111
Crypto Swap Exchange
October 17, 2018, 06:19:24 AM
But on the invest page there are two options online and offsite and I am getting a bit confused there. Where do I put my BTC?
Just look at "Overview" on investing page (https://bustadice.com/invest) - "Onsite bankroll" value constantly changes, but "Offsite bankroll" does not change at all. I think, "onsite" investment more profitable, but riskier; "offsite" - stabler, but less profitable.

I invested on August 27th 0.4 btc, now i see 0.40681439 btc in my stats. Better than nothing nevertheless.
sr. member
Activity: 952
Merit: 284
In love with Bitcoin!! 💓💕
October 17, 2018, 03:15:06 AM
Just saw this "invest" feature on Bustadice website. I have like 0.01 BTC and I think Bustadice might be a safer option to invest. Mainly due to the fact that Yahoo is managing the campaign for a while.

But on the invest page there are two options online and offsite and I am getting a bit confused there. Where do I put my BTC? Also in FAQ it states, "we charge investors a 0.25 % commission on every wager". Why are investors being charged for wagers? Is it wager by players or the investor itself? Totally not getting the idea.
full member
Activity: 538
Merit: 175
October 08, 2018, 09:03:49 PM
Definitely not. The cold-storage is over-funded (funded at >100% it's obligations), hasn't moved and requires 2-of-3 sig to move (of which Daniel only has 1).

If Daniel wanted to do an exit-scam, he'd do it on bustabit not bustadice (since bustabit doesn't have an investor protection system like bustadice), but bustabit is up and running like normal. So pretty much guaranteed nothing to worry about.

Bustadice actually similarly went down for a few minutes a day ago or something (except he was online to deal with it). At the time he said he thought it was due to some incorrect error handling he found. My guess is that the bug is still there Cheesy
Thanks, that all makes sense. I hadn't been on bustabit in a while but it seems they doubled the dilution fee to 2% and then also cut the leverage in half from 4x to 2x since I last visited Huh
hero member
Activity: 3038
Merit: 634
October 08, 2018, 08:23:48 PM
Is the server down or something? I'm able to access the website but can't do anything (play, invest, etc).


Yeah, down for me too. And Dan just signed off, so it's probably going to be a few hours til he's back to fix it  Embarrassed
I thought I'm the only one that has issue, I keep on logging in and in the end it only says lost connection to the server.

That's why I came here so I hope it will be back again soon.

Edit: It's working now.  Smiley
full member
Activity: 538
Merit: 175
October 08, 2018, 07:55:46 PM
Yeah, down for me too. And Dan just signed off, so it's probably going to be a few hours til he's back to fix it  Embarrassed
So you don't think it's any kind of exit scheme or hack?
full member
Activity: 538
Merit: 175
October 08, 2018, 07:48:28 PM
Is the server down or something? I'm able to access the website but can't do anything (play, invest, etc).
Same here, there must be some issue..
hero member
Activity: 1708
Merit: 541
October 08, 2018, 07:24:10 PM
Is the server down or something? I'm able to access the website but can't do anything (play, invest, etc).
hero member
Activity: 905
Merit: 502
I miss dooglus
August 27, 2018, 03:51:14 AM
man btc whale investors are sleeping on this one. could have made major profit this month


i see bankroll doubling within a month
legendary
Activity: 2772
Merit: 3284
August 25, 2018, 12:42:01 PM
I'm considering investing in Bustadice. However, I wonder why Bustadice and Bustabit bankrolls aren't shared, considering that now the owner is the same. What's the point of making investors deposit on both places (therefore reducing their expected returns approximately in half) when they could be safely combined in one, while allowing players to have the same max bet (actually max bets would be bigger as some people currently investing in both bankrolls could just invest everything in one).



One of the reasons might be that some people prefer having more provably fair investing (with Ryan and the audit server on bustadice) so they want to solely invest in bustadice. It would be nice to have some easy method of transferring between the two sites though.

Leverage on both sites also allow you to not cut your expected returns in half. You could invest with 2x leverage on both sites, and match your full expected returns.

And not to mention, investors are doing great! Up a staggering 474.2 BTC (3% more than expected value!)

My investment with some reckless leverage:
legendary
Activity: 1199
Merit: 1047
August 25, 2018, 12:13:26 PM
I'm considering investing in Bustadice. However, I wonder why Bustadice and Bustabit bankrolls aren't shared, considering that now the owner is the same. What's the point of making investors deposit on both places (therefore reducing their expected returns approximately in half) when they could be safely combined in one, while allowing players to have the same max bet (actually max bets would be bigger as some people currently investing in both bankrolls could just invest everything in one).

hero member
Activity: 3038
Merit: 634
August 16, 2018, 09:56:01 AM
I have had no reason to post about it much, but as many of you know I have been acting as bustadice's "auditor" which allows me to offer reasonably strong guarantees to investors (assuming they trust me to not be malicious) by verifying bets/wins and having one of the multisig keys to the cold wallet to approve the movement there.  During this time I can confidently say that there's been no funny-business with bustadice, and can attest to investors being treated fairly.

Anyway, some of you might have noticed a brief outage of bustadice on August 8th. The cause was actually my fault, as my audit server went down (it's on the critical path for a bet, as bustadice itself can't figure out the result of a bet without it).  I can now confidently diagnose the cause as a hardware failure, and as a result I lost a few seconds of logs. (To keep latency low, the audit server will give the requested data to bustadice before it has guaranteed the logs are persisted/flushed to disk)

But to be clear, it's an extremely minor issue. This has no impact on players or investors, it just means there's a handful of bets in which I can not audit for investors, however none of the bets are a significant size (we're talking less than a few hundred dollars).  I am mainly just posting this to try offer total transparency. I was originally planning on calculating the exact amount of the worst-case audit mismatch and paying that out to investors (on account of it being such a small amount) but I have decided against it as  a) It would create precedent that would confuse my role as auditor with something more akin to "insurance" and b) the cause of the failure was hardware related, I believe it would've been almost impossible to predict or abuse.

And not to mention, investors are doing great! Up a staggering 474.2 BTC (3% more than expected value!)
Words coming from a very well reputable person in the community.

If anyone out there doesn't know who RHavar is, check his trust ratings and I'm sure you'll trust this guys word. One of the best developer and an asset to the bitcoin gambling community.

Just ignore those kids that left him a baseless untrusted feedback.
full member
Activity: 294
Merit: 102
Dice-Bet.com | BTC, ETH, LTC | 0.7% HE | Invest
August 15, 2018, 04:05:27 AM
I have had no reason to post about it much, but as many of you know I have been acting as bustadice's "auditor" which allows me to offer reasonably strong guarantees to investors (assuming they trust me to not be malicious) by verifying bets/wins and having one of the multisig keys to the cold wallet to approve the movement there.  During this time I can confidently say that there's been no funny-business with bustadice, and can attest to investors being treated fairly.

Anyway, some of you might have noticed a brief outage of bustadice on August 8th. The cause was actually my fault, as my audit server went down (it's on the critical path for a bet, as bustadice itself can't figure out the result of a bet without it).  I can now confidently diagnose the cause as a hardware failure, and as a result I lost a few seconds of logs. (To keep latency low, the audit server will give the requested data to bustadice before it has guaranteed the logs are persisted/flushed to disk)

But to be clear, it's an extremely minor issue. This has no impact on players or investors, it just means there's a handful of bets in which I can not audit for investors, however none of the bets are a significant size (we're talking less than a few hundred dollars).  I am mainly just posting this to try offer total transparency. I was originally planning on calculating the exact amount of the worst-case audit mismatch and paying that out to investors (on account of it being such a small amount) but I have decided against it as  a) It would create precedent that would confuse my role as auditor with something more akin to "insurance" and b) the cause of the failure was hardware related, I believe it would've been almost impossible to predict or abuse.

And not to mention, investors are doing great! Up a staggering 474.2 BTC (3% more than expected value!)

That is a really cool service offered by you and bustadice I had no idea about.

Obviously attracting the best of both worlds - investors + players.

Might have to join the party Smiley
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