Buying our bankroll (Investment) - page 3.

peonminer

hero member

Activity: 798

Merit: 531

Crypto is King.

Quote from: CasinoBit on August 09, 2013, 12:44:02 PM

Quote from: peonminer on August 09, 2013, 12:38:39 PM

CasinoBit, please explain to me in detail how the investment works. Let's say, I invest 0.10 BTC today. What will my return be in 24 hours, 1 week, 1 month, 1 year? How, exactly is it calculated? I need to see numbers please. The short explanation on the website is vague.

Say you invest 0.1BTC when there is a total of 0.9BTC invested, you now own 10% of the bankroll. If a whale comes along and loses 10BTC, you now own 1.1BTC (10% of the total 11BTC) so you will be able to "Move" the funds to your main account and withdraw from there, you will always profit in the long run despite any momentary negative balances because of our house edge.

The results are also provably fair so there is no possibility of us making it seems as if someone is constantly winning.

Thanks for the explanation! Much better understanding now!

CasinoBit

sr. member

Activity: 364

Merit: 250

Quote from: kopipe on August 09, 2013, 12:44:08 PM

Quote from: CasinoBit on August 09, 2013, 12:35:30 PM

No, the account key is only accessible through your IP, the chances of the account getting "hacked" are about as big as someone bruteforcing your private key.

This is not what I asked. I asked what you would do if the CasinoBit website itself was compromised.

However, this raises an even bigger issue. Based on this explanation, if an investor has a dynamic IP address or switches ISP's they lose their investment? You might want to rethink this system and just use accounts with passwords and 2FA like Just-dice.com. I wouldn't want access to my investment/balances to be dictated by my ISP Wink

You can always contact the support in this case, point is that the account is always accessible from just 1 IP and it is likely to remain so.

If the website is compromised (which is highly unlikely since we follow the highest standards of security) then you lose your investment, it obviously DOES have risks like any other investments out there so people need to be adults about this.

kopipe

full member

Activity: 246

Merit: 124

Quote from: CasinoBit on August 09, 2013, 12:35:30 PM

No, the account key is only accessible through your IP, the chances of the account getting "hacked" are about as big as someone bruteforcing your private key.

This is not what I asked. I asked what you would do if the CasinoBit website itself was compromised.

However, this raises an even bigger issue. Based on this explanation, if an investor has a dynamic IP address or switches ISP's they lose their investment? You might want to rethink this system and just use accounts with passwords and 2FA like Just-dice.com. I wouldn't want access to my investment/balances to be dictated by my ISP Wink

CasinoBit

sr. member

Activity: 364

Merit: 250

Quote from: peonminer on August 09, 2013, 12:38:39 PM

CasinoBit, please explain to me in detail how the investment works. Let's say, I invest 0.10 BTC today. What will my return be in 24 hours, 1 week, 1 month, 1 year? How, exactly is it calculated? I need to see numbers please. The short explanation on the website is vague.

Say you invest 0.1BTC when there is a total of 0.9BTC invested, you now own 10% of the bankroll. If a whale comes along and loses 10BTC, you now own 1.1BTC (10% of the total 11BTC) so you will be able to "Move" the funds to your main account and withdraw from there, you will always profit in the long run despite any momentary negative balances because of our house edge.

The results are also provably fair so there is no possibility of us making it seems as if someone is constantly winning.

peonminer

hero member

Activity: 798

Merit: 531

Crypto is King.

CasinoBit, please explain to me in detail how the investment works. Let's say, I invest 0.10 BTC today. What will my return be in 24 hours, 1 week, 1 month, 1 year? How, exactly is it calculated? I need to see numbers please. The short explanation on the website is vague.

CasinoBit

sr. member

Activity: 364

Merit: 250

Quote from: kopipe on August 09, 2013, 12:19:36 PM

What is the maximum win for players?
What is the house edge? (assuming 2.70% because it's single-0 roulette)
What happens if the wallet holding the BTC is hacked? Can we expect to be reimbursed by you?
Is your investment figured in to the total?

Currently 2*36=72BTC
2.7% standard roulette house edge, no European half-back rules apply.
No, the account key is only accessible through your IP, the chances of the account getting "hacked" are about as big as someone bruteforcing your private key.
Yes, the bankroll is then used to allow for bigger bets.

peonminer

hero member

Activity: 798

Merit: 531

Crypto is King.

~~Soooo... you want us to invest, but give no information on how to invest?? Just an update on your online casino's workings??~~

Found it on the site! Thanks!

kopipe

full member

Activity: 246

Merit: 124

What is the maximum win for players?
What is the house edge? (assuming 2.70% because it's single-0 roulette)
What happens if the wallet holding the BTC is hacked? Can we expect to be reimbursed by you?
Is your investment figured in to the total?

CasinoBit

sr. member

Activity: 364

Merit: 250

I thought I would also announce this in the appropriate sections as well as in our official thread in the "Gambling" section, you can check it out in my signature.

Invest early enough and you will get a great return on investment without taking any of the risks of lending to new members, managing collateral or buying into some shady securities.

Topic: Buying our bankroll (Investment) - page 3. (Read 2094 times)