Topic: EveryDice.com | 0.99% Edge - Instant Cashout - Invest - Referral - Mobile - Fair - page 24. (Read 72081 times)

Quote from: jaysabi on May 25, 2014, 11:48:26 AM

ed, how is the progress, can i get my coins soon?

ah, You did not got money yet. ED ruining its reputation by delaying your payment.

littlebox

member

Activity: 112

Merit: 10

with CrowdDice.com, house will never get a hit like this, since winning & lossing is strictly between game creators and players.

oh I forget, there's actually no house

jaysabi

legendary

Activity: 2044

Merit: 1115

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So you addressed the first part of my point. I stand corrected on that. Assuming those are the ED cold wallet addresses, then the "bet verification" is still a problem. Three days of no withdrawal for 1Dice1 now. I don't see how ED can refuse payment and walk away with any shred of credibility. If you're bad at gambling, that's your loss. If you're bad at running a gambling website, that's also your loss. And of course, that's assuming that 1Dice somehow gamed the system. I think the real problem here is ED had a faulty set-up (house edge lower than max win % of BR) and suffered from a lack of traffic so that it was possible for a whale to take them down. There is not enough gambling on ED to make up for 1Dice wins. On a populated site, 1Dice losses would have been felt but absorbed by gambling activities from other players.

dooglus

legendary

Activity: 2940

Merit: 1333

Did ED ever publish proof they held such reserves? Freezing 1Dice1 but allowing other people to redeem gave investors time to flee. Now there is certainly not enough to cover the losses.

I've seen these two addresses mentioned in the JD chat:

(70707) 1EDCWwzPzuT5v9hmxCwrW5hCDWFyGcdpeg and 1EDCWx4aJ5bT3ztma8wqT3CyTRbd9uSA8K

They seem to be "ED Cold Wallet" vanity addresses, and so probably are.

You don't seem to understand how the site is meant to work.

If there's 300 invested and a player wins 100, there's then 200 invested and 100 in the player's balance. If the remaining investors pull out 180, there will be 20 invested and 100 in the player's balance.

You'll look at the site and say "the player is trying to withdraw 100 but there's only 20 in the bank, oh noes!" but that's a misunderstanding. The site has the 100 still - as soon as the player won it, it was taken from the bankroll and put into the player's balance. It was no longer available for the investors to divest.

So there *should* be enough to cover the losses, even if the invested amount goes to zero.

tldr: the site is supposed to have enough coins to cover the total invested PLUS the total in player balances

jaysabi

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Activity: 2044

Merit: 1115

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I don't know why anyone would trust the site at this point. It seems the promised "bankroll" was not as high as advertised. Did ED ever publish proof they held such reserves? Freezing 1Dice1 but allowing other people to redeem gave investors time to flee. Now there is certainly not enough to cover the losses.

This bet "verification" ED is talking about sounds only like an attempt to find an reason not to pay. If someone lost money to ED and requested a "verification" of all the bets, how do you think that would have went down? Everyone would have accused them of just being butthurt over losing money and there would have been a whole lot of "well you knew the risks of gambling, yada yada..." What a ridiculous double standard. ED advertises "provably fair" so how is there a need for verification in a provably fair system? In the event of a site leak or whatever everyone is on about, that's the site owner's fault. You can't tell gamblers "you knew the risks of gambling, it's your loss for being bad at it" then not tell the site owner "you knew the risks of running a gambling website, it's your loss for being bad at it."

In short, this is total garbage. If anything, this should push all other dice sites to publish proof they hold the reserves they say they do if they don't already.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Quote from: ruru on May 25, 2014, 10:58:04 AM

Quote from: Cryptopher on May 25, 2014, 10:50:20 AM

Quote from: ruru on May 25, 2014, 10:44:11 AM

Quote from: Cryptopher on May 25, 2014, 10:40:40 AM

Quote from: Cryptopher on May 25, 2014, 10:20:06 AM

Quote from: Cryptopher on May 25, 2014, 10:50:20 AM

ed, how is the progress, can i get my coins soon?

I offer to buy your account for 4 BTC if you're interested.

And reduce a massive payout to a sum that is, relatively speaking, peanuts? Seems a bit suspicious to me.

Nope, I sustained extreme losses from this site. I just want to do a lil' arbitrage, get the rights to his account, only ask for my losses+ whatever I give him. And then I'm out of here.

The rest can go to healing investors. If ED and 1Dice do a deal on their own, it would be like ED couldn't pay out 1Dice and no one will gamble; then site withers away. ED is saying the rolls seem a little suspect with the possibility of a seed leak. After all, he's twice as lucky as Nakowa who was already a freak of nature. So, taking a bit of a financial(non fatal) hit would be a lot better than forcing ED to run away with everyone's coins. I'd use escrow for this deal.

If this deal actually goes through, ED can change its commision structure, reduce the max profit to 0.5%, and everyone's happy.
The most serious investors would probably pull out after this scandal.. but it may heal as time goes by.

tl;dr: I really don't give a shit, I just want my coins back.

P.S. I got the idea from Mt.Gox BTC <---> Real BTC exchanges.

And don't you feel that it will end up being the same outcome as the Gox situation? Well I suppose you do having valued those BTC as only 4 real BTC haha.

Before agreeing to pay for it, I'd get an escrow, like I said. Have Edward agree to my deal, then he sends 15+4 BTC, to a neutral escrow, I send 4 BTC to 1Dice, and escrow sends it to me. Bingo.

So wait a second, that means that 1Dice gets 4 BTC instead of his due amount, you get the 15 bitcoins that you wanted, and Edward gets to write off a massive payout?

Seems like 1Dice would be getting screwed, you would be at evens and Edward would be dodging a bullet Matrix style.

Why doesn't Edward just send 4 BTC to 1Dice? Or even still why doesn't he send 19 BTC to him. I don't understand why you would need to be in the equation.

Perhaps I've misread something, but it doesn't appear to make sense.

Because the whole thing was my idea. The way things are headed, ED will shut down with everyone's coins included. If ED does pay off 1Dice a smaller amount than owed directly, it would imply that ED can't really pay off his debts ala coinbet.cc. At least with my deal, ED can save face and say "ooh, we're legit, herpy derp". My take on this is ED didn't mean to scam. The 1% kelly created an unexpected variance that nearly destroyed the bankroll. IF he takes my deal, ED can fix things by reducing the max profit to 0.5% kelly and reworking the commission system and this shit wont happen again.

While I'm sure that you have good intentions, and of course wish to use this opportunity to get even, I still think that you are an unnecessary agent within such a deal.

I mean the deal would be more likely to happen if Edward just dished out the 19 BTC to 1Dice, or if they come to some arrangement in which payment was send over time. Though that would mess around with the books a bit.

Damage is being done to the reputation of the site, users will be losing faith. The site looks good though. Perhaps it should be sold and rebranded.

ruru

full member

Activity: 139

Merit: 100

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Quote from: ruru on May 25, 2014, 10:44:11 AM

Quote from: Cryptopher on May 25, 2014, 10:40:40 AM

Quote from: Cryptopher on May 25, 2014, 10:20:06 AM

Quote from: ruru on May 25, 2014, 10:44:11 AM

ed, how is the progress, can i get my coins soon?

I offer to buy your account for 4 BTC if you're interested.

And reduce a massive payout to a sum that is, relatively speaking, peanuts? Seems a bit suspicious to me.

Nope, I sustained extreme losses from this site. I just want to do a lil' arbitrage, get the rights to his account, only ask for my losses+ whatever I give him. And then I'm out of here.

The rest can go to healing investors. If ED and 1Dice do a deal on their own, it would be like ED couldn't pay out 1Dice and no one will gamble; then site withers away. ED is saying the rolls seem a little suspect with the possibility of a seed leak. After all, he's twice as lucky as Nakowa who was already a freak of nature. So, taking a bit of a financial(non fatal) hit would be a lot better than forcing ED to run away with everyone's coins. I'd use escrow for this deal.

If this deal actually goes through, ED can change its commision structure, reduce the max profit to 0.5%, and everyone's happy.
The most serious investors would probably pull out after this scandal.. but it may heal as time goes by.

tl;dr: I really don't give a shit, I just want my coins back.

P.S. I got the idea from Mt.Gox BTC <---> Real BTC exchanges.

And don't you feel that it will end up being the same outcome as the Gox situation? Well I suppose you do having valued those BTC as only 4 real BTC haha.

Before agreeing to pay for it, I'd get an escrow, like I said. Have Edward agree to my deal, then he sends 15+4 BTC, to a neutral escrow, I send 4 BTC to 1Dice, and escrow sends it to me. Bingo.

So wait a second, that means that 1Dice gets 4 BTC instead of his due amount, you get the 15 bitcoins that you wanted, and Edward gets to write off a massive payout?

Seems like 1Dice would be getting screwed, you would be at evens and Edward would be dodging a bullet Matrix style.

Why doesn't Edward just send 4 BTC to 1Dice? Or even still why doesn't he send 19 BTC to him. I don't understand why you would need to be in the equation.

Perhaps I've misread something, but it doesn't appear to make sense.

Because the whole thing was my idea. The way things are headed, ED will shut down with everyone's coins included. If ED does pay off 1Dice a smaller amount than owed directly, it would imply that ED can't really pay off his debts ala coinbet.cc. At least with my deal, ED can save face and say "ooh, we're legit, herpy derp". My take on this is ED didn't mean to scam. The 1% kelly created an unexpected variance that nearly destroyed the bankroll. IF he takes my deal, ED can fix things by reducing the max profit to 0.5% kelly and reworking the commission system and this shit wont happen again.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Quote from: Cryptopher on May 25, 2014, 10:40:40 AM

Quote from: Cryptopher on May 25, 2014, 10:20:06 AM

Quote from: Cryptopher on May 25, 2014, 10:40:40 AM

ed, how is the progress, can i get my coins soon?

I offer to buy your account for 4 BTC if you're interested.

And reduce a massive payout to a sum that is, relatively speaking, peanuts? Seems a bit suspicious to me.

Nope, I sustained extreme losses from this site. I just want to do a lil' arbitrage, get the rights to his account, only ask for my losses+ whatever I give him. And then I'm out of here.

The rest can go to healing investors. If ED and 1Dice do a deal on their own, it would be like ED couldn't pay out 1Dice and no one will gamble; then site withers away. ED is saying the rolls seem a little suspect with the possibility of a seed leak. After all, he's twice as lucky as Nakowa who was already a freak of nature. So, taking a bit of a financial(non fatal) hit would be a lot better than forcing ED to run away with everyone's coins. I'd use escrow for this deal.

If this deal actually goes through, ED can change its commision structure, reduce the max profit to 0.5%, and everyone's happy.
The most serious investors would probably pull out after this scandal.. but it may heal as time goes by.

tl;dr: I really don't give a shit, I just want my coins back.

P.S. I got the idea from Mt.Gox BTC <---> Real BTC exchanges.

And don't you feel that it will end up being the same outcome as the Gox situation? Well I suppose you do having valued those BTC as only 4 real BTC haha.

Before agreeing to pay for it, I'd get an escrow, like I said. Have Edward agree to my deal, then he sends 15+4 BTC, to a neutral escrow, I send 4 BTC to 1Dice, and escrow sends it to me. Bingo.

So wait a second, that means that 1Dice gets 4 BTC instead of his due amount, you get the 15 bitcoins that you wanted, and Edward gets to write off a massive payout?

Seems like 1Dice would be getting screwed, you would be at evens and Edward would be dodging a bullet Matrix style.

Why doesn't Edward just send 4 BTC to 1Dice? Or even still why doesn't he send 19 BTC to him. I don't understand why you would need to be in the equation.

Perhaps I've misread something, but it doesn't appear to make sense.

ruru

full member

Activity: 139

Merit: 100

GET IN - Smart Ticket Protocol - Live in market!

Quote from: Cryptopher on May 25, 2014, 10:20:06 AM

ed, how is the progress, can i get my coins soon?

I offer to buy your account for 4 BTC if you're interested.

And reduce a massive payout to a sum that is, relatively speaking, peanuts? Seems a bit suspicious to me.

Nope, I sustained extreme losses from this site. I just want to do a lil' arbitrage, get the rights to his account, only ask for my losses+ whatever I give him. And then I'm out of here.

The rest can go to healing investors. If ED and 1Dice do a deal on their own, it would be like ED couldn't pay out 1Dice and no one will gamble; then site withers away. ED is saying the rolls seem a little suspect with the possibility of a seed leak. After all, he's twice as lucky as Nakowa who was already a freak of nature. So, taking a bit of a financial(non fatal) hit would be a lot better than forcing ED to run away with everyone's coins. I'd use escrow for this deal.

If this deal actually goes through, ED can change its commision structure, reduce the max profit to 0.5%, and everyone's happy.
The most serious investors would probably pull out after this scandal.. but it may heal as time goes by.

tl;dr: I really don't give a shit, I just want my coins back.

P.S. I got the idea from Mt.Gox BTC <---> Real BTC exchanges.

And don't you feel that it will end up being the same outcome as the Gox situation? Well I suppose you do having valued those BTC as only 4 real BTC haha.

Before agreeing to pay for it, I'd get an escrow, like I said. Have Edward agree to my deal, then he sends 15+4 BTC, to a neutral escrow, I send 4 BTC to 1Dice, and escrow sends it to me. Bingo.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Quote from: Cryptopher on May 25, 2014, 10:20:06 AM

Quote from: Cryptopher on May 25, 2014, 10:20:06 AM

ed, how is the progress, can i get my coins soon?

I offer to buy your account for 4 BTC if you're interested.

And reduce a massive payout to a sum that is, relatively speaking, peanuts? Seems a bit suspicious to me.

Nope, I sustained extreme losses from this site. I just want to do a lil' arbitrage, get the rights to his account, only ask for my losses+ whatever I give him. And then I'm out of here.

The rest can go to healing investors. If ED and 1Dice do a deal on their own, it would be like ED couldn't pay out 1Dice and no one will gamble; then site withers away. ED is saying the rolls seem a little suspect with the possibility of a seed leak. After all, he's twice as lucky as Nakowa who was already a freak of nature. So, taking a bit of a financial(non fatal) hit would be a lot better than forcing ED to run away with everyone's coins. I'd use escrow for this deal.

If this deal actually goes through, ED can change its commision structure, reduce the max profit to 0.5%, and everyone's happy.
The most serious investors would probably pull out after this scandal.. but it may heal as time goes by.

tl;dr: I really don't give a shit, I just want my coins back.

P.S. I got the idea from Mt.Gox BTC <---> Real BTC exchanges.

And don't you feel that it will end up being the same outcome as the Gox situation? Well I suppose you do having valued those BTC as only 4 real BTC haha.

ruru

full member

Activity: 139

Merit: 100

GET IN - Smart Ticket Protocol - Live in market!