FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest - page 1199.

TheQuin

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Quote from: Kakmakr on September 16, 2018, 03:30:07 AM

I disagree. Dropping the house edge will pull the customer base you should be targeting, not the faucet suckers that are sucking the place dry at the moment. Freebitco.in is not a faucet site anymore, so there is no reason why we should add higher referral bonuses to attract these non-gamblers.

I think gamblers are looking for sites with the lowest house edge and by dropping the house edge, we would be drawing in the target crowd that we should be targeting. Wink

I disagree with your disagreement. There a few big referral whales that have brought in a huge income to us over the years and they continue to advertise and pull in new customers.

I think our turnover numbers compared to the low house edge sites shows that there is a big market for running the site the way we do. Abandoning our successful business model and going to compete in an already overcrowded sector isn't something that's going to happen.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

Quote from: jackg on September 15, 2018, 03:02:00 PM

Quote from: Kprawn on September 15, 2018, 02:47:00 PM

I second that Wink

I think Wetsuit fine tuned this operation to the tee and any change in the house edge will unbalance the whole thing. Let's rather accept that a higher house edge is necessary to cross fund other features on the site and be done with it. We do not want a lower house edge with less features, right? Freebitco.in is a streamlined engine and too many tinkering will cause damage to the well oiled gears of the operation. Tongue

Can we not start a new line mid sentence, it's causing me quite a headache.
But yeah in some ways it probably is quite streamlined, I think giving 0.4% of what is wagered is quite high but if it works then fine (I'd be up for the idea of reducing the referral bonus since thequin wants to attract noobs who probably won't find this site through others and are more likely to stumble across it in other places and on this forum)...

I disagree. Dropping the house edge will pull the customer base you should be targeting, not the faucet suckers that are sucking the place dry at the moment. Freebitco.in is not a faucet site anymore, so there is no reason why we should add higher referral bonuses to attract these non-gamblers.

I think gamblers are looking for sites with the lowest house edge and by dropping the house edge, we would be drawing in the target crowd that we should be targeting. Wink

jackg

copper member

Activity: 2856

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https://bit.ly/387FXHi lightning theory

Quote from: Kprawn on September 15, 2018, 02:47:00 PM

I second that Wink

I think Wetsuit fine tuned this operation to the tee and any change in the house edge will unbalance the whole thing. Let's rather accept that a higher house edge is necessary to cross fund other features on the site and be done with it. We do not want a lower house edge with less features, right? Freebitco.in is a streamlined engine and too many tinkering will cause damage to the well oiled gears of the operation. Tongue

Can we not start a new line mid sentence, it's causing me quite a headache.
But yeah in some ways it probably is quite streamlined, I think giving 0.4% of what is wagered is quite high but if it works then fine (I'd be up for the idea of reducing the referral bonus since thequin wants to attract noobs who probably won't find this site through others and are more likely to stumble across it in other places and on this forum)...

Kprawn

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I second that Wink

I think Wetsuit fine tuned this operation to the tee and any change in the house edge will unbalance the

whole thing. Let's rather accept that a higher house edge is necessary to cross fund other features on the site and be done

with it. We do not want a lower house edge with less features, right? Freebitco.in is a streamlined engine and too many

tinkering will cause damage to the well oiled gears of the operation. Tongue

Betwrong

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I stand with Ukraine.

Quote from: TheQuin on September 15, 2018, 12:47:15 AM

Quote from: Thirdspace on September 14, 2018, 06:30:28 PM

agree! lower the house edge to 2-3% and remove all referral commissions
but keep reward point program running for the sole benefit of the user himself
I bet our favourite "thread's fan" Kiss

will start screaming a different tone,
he will start demanding wetsuit to put back the referral commission system Grin

You've got it right in that reducing the house edge would mean removing something else. We're happy we have the balance correct at the moment and will not be changing that.

I support this. The site is working perfectly and there are thousands and thousands of satisfied customers, and changing anything in this situation would be a mistake imo. It's the new appearing sites who have to try with different approaches changing them constantly until they come up with something which satisfy many users. Freebitco.in has done that in the past and ended up with a great working model which should rather be studied by others than criticized.

TheQuin

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Quote from: jackg on September 14, 2018, 12:24:54 PM

@TheQuin, you're going to end up with quite a lot of jobs then.

@Broken, the government doesn't have enough money to invest in this sort of thing and if he goes abroad to the BVI then they definitely won't have enoguh money to tend to it. Also since TheQuin doesn't have much programming knowledge (as he said) I think the site might be up for a bit of turbulance in the coming months...

It's good to be this busy. Grin

I've got the village idiot on ignore but I guess he's got his tin foil hat on again. We're not based in the US and in the US regulators own words their jurisdiction only extends to sites that 'operate mostly within the US'.

My role will not involve any programming as wetsuit wants me to take over all the day to day running tasks so he has more time to do development and strategy.

Quote from: Thirdspace on September 14, 2018, 06:30:28 PM

agree! lower the house edge to 2-3% and remove all referral commissions
but keep reward point program running for the sole benefit of the user himself
I bet our favourite "thread's fan" Kiss

will start screaming a different tone,
he will start demanding wetsuit to put back the referral commission system Grin

You've got it right in that reducing the house edge would mean removing something else. We're happy we have the balance correct at the moment and will not be changing that.

Thirdspace

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Quote from: Samarkand on September 14, 2018, 04:20:32 AM

Quote from: TheQuin on September 14, 2018, 04:06:04 AM

...
Our business model uses a 5% house edge to fund a faucet, rewards program and lottery. When people ask about reducing the house edge I ask them which of those things we should remove to pay for it.
...

How about all of them? I´d rather play on a site with a 1 % fixed house edge without
any of the mentioned features than at a site with a 5 % house edge that pays for these features.

agree! lower the house edge to 2-3% and remove all referral commissions
but keep reward point program running for the sole benefit of the user himself
I bet our favourite "thread's fan" Kiss

will start screaming a different tone,
he will start demanding wetsuit to put back the referral commission system Grin

broke_tradah

jr. member

Activity: 350

Merit: 6

Quote from: jackg on September 14, 2018, 12:24:54 PM

TheQuin doesn't have much programming knowledge

I'd expand that to a bit of a larger field Wink

hahaha I crack me up.

jackg

copper member

Activity: 2856

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https://bit.ly/387FXHi lightning theory

@TheQuin, you're going to end up with quite a lot of jobs then.

@Broken, the government doesn't have enough money to invest in this sort of thing and if he goes abroad to the BVI then they definitely won't have enoguh money to tend to it. Also since TheQuin doesn't have much programming knowledge (as he said) I think the site might be up for a bit of turbulance in the coming months...

broke_tradah

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Quote from: TheQuin on September 14, 2018, 06:00:01 AM

I have to meet him as I'm moving out there to take over running all day to day operations.

Sounds to me like he's planning to sell you the business before it tanks or perhaps he wants to wash his name from it, then after some substantial time has passed, he secretly hacks the site via a purposeful bug or backdoor and steals everything leaving you holding the bag. So yes, please do buy the joint so I can sit back and watch the hilarity ensue. Also, if he does meet you, you're not anonymous and it will ruin his own anonymity now that you've publicly stated you know who the owner is. You'll be the first person that the FBI grabs with a Civil Forfeiture event (https://en.wikipedia.org/wiki/Civil_forfeiture_in_the_United_States, it's called asset confiscation or other terms in other countries such as UK/AU, etc, but the end result is the same, you lose everything without having been convicted of anything at all). I hope you spent lots of money on your electronic equipment so that it really stings when they come take it.

TheQuin

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Quote from: jackg on September 14, 2018, 05:47:32 AM

Exactly. The forum != our potential customer base.

Why have you been hired then and why does this thread exist?
[/quote]

I'm not saying that the forum isn't still important to us. I was originally hired to give support here to our existing customers and those that come here from the links we give to the forum from our site. What I mean is that just about everyone that is involved in Bitcoin already has (or had) an account with us. New customers come from a wider audience.

Quote from: jackg on September 14, 2018, 05:47:32 AM

It'd look better with a 3% house edge with all the extras in comparison to a 5% house edge.
For you it'll be fun (although they do say not to meet your heroes)...

What I do know from the 6 months that I've been working for him is that if profitability increases he'll ask me how to increase the rewards without encouraging the bots, not how to reduce the income that funds those rewards. That to me is the whole business model and what brings new customers in from that wider audience that doesn't obsess about house edge in the way people here do.

I have to meet him as I'm moving out there to take over running all day to day operations.

jackg

copper member

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https://bit.ly/387FXHi lightning theory

Quote from: TheQuin on September 14, 2018, 04:59:57 AM

Quote from: jackg on September 14, 2018, 04:53:19 AM

Who's to say they're the minority, there seems to have been a lot of them here...

Exactly. The forum != our potential customer base.

Why have you been hired then and why does this thread exist?

Quote from: TheQuin on September 14, 2018, 04:59:57 AM

I can't see why he would change something that is working so well. I haven't asked him about this but it just seems illogical to do that to me. I'm going to meet him the week after next so it's going to be fun to chat and find out.

It'd look better with a 3% house edge with all the extras in comparison to a 5% house edge.
For you it'll be fun (although they do say not to meet your heroes)...

TheQuin

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Quote from: jackg on September 14, 2018, 04:53:19 AM

Who's to say they're the minority, there seems to have been a lot of them here...

Exactly. The forum != our potential customer base.

Quote from: jackg on September 14, 2018, 04:53:19 AM

Wetsuit is clearly making a healthy profit from this so it's not like he can't afford changing it to a 3% house edge and still make a profit or see how it goes...

Quote from: TheQuin on September 14, 2018, 04:23:52 AM

We offer a different service and that has been very popular and successful for nearly 5 years now.

I can't see why he would change something that is working so well. I haven't asked him about this but it just seems illogical to do that to me. I'm going to meet him the week after next so it's going to be fun to chat and find out.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: TheQuin on September 14, 2018, 04:48:22 AM

Quote from: jackg on September 14, 2018, 04:44:24 AM

Essentially just ignoring those customers requests...

Ignoring the minority in order to keep serving the overwhelming majority.

Quote from: jackg on September 14, 2018, 04:44:24 AM

0%-5% is a very big move...

Yes, as I just said it was originally intended to be tempory and reduced. But it turned out that it didn't reduce gambling volume and spending the money by adding reward points, a lottery etc. was a more successful way to expand the business by attracting more customers than lowering the house edge would have been.

Who's to say they're the minority, there seems to have been a lot of them here...
Wetsuit is clearly making a healthy profit from this so it's not like he can't afford changing it to a 3% house edge and still make a profit or see how it goes...

TheQuin

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Activity: 2576

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Freebitco.in Support https://bit.ly/2I9BVS2

Quote from: jackg on September 14, 2018, 04:44:24 AM

Essentially just ignoring those customers requests...

Ignoring the minority in order to keep serving the overwhelming majority.

Quote from: jackg on September 14, 2018, 04:44:24 AM

0%-5% is a very big move...

Yes, as I just said it was originally intended to be tempory and reduced. But it turned out that it didn't reduce gambling volume and spending the money by adding reward points, a lottery etc. was a more successful way to expand the business by attracting more customers than lowering the house edge would have been.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: TheQuin on September 14, 2018, 04:39:55 AM

Quote from: Samarkand on September 14, 2018, 04:30:26 AM

Yes, I know. But I was under the impression that the house edge was initially much lower and
was raised to 5 % at a later date.

The site was originally funded by advertising and had a 0% house edge dice game just for fun. After about two weeks the bots turned up and started abusing the faucet so the 5% house edge was added. It was originally intended to be reduced but wetsuit stumbled on a sucessful business. It turns out there are many people that are far more interested in the extras we give and really don't care about the house edge. Over time advertising revenue dried up as rates reduced for incentivised sites and the site evolved into what it is now. We could completely change our business model and go and compete with dozens of other sites in the crowded low edge sector or we could ignore the few complainers and continue the way that works for us.

Essentially just ignoring those customers requests...

0%-5% is a very big move...

TheQuin

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Quote from: Samarkand on September 14, 2018, 04:30:26 AM

Yes, I know. But I was under the impression that the house edge was initially much lower and
was raised to 5 % at a later date.

The site was originally funded by advertising and had a 0% house edge dice game just for fun. After about two weeks the bots turned up and started abusing the faucet so the 5% house edge was added. It was originally intended to be reduced but wetsuit stumbled on a sucessful business. It turns out there are many people that are far more interested in the extras we give and really don't care about the house edge. Over time advertising revenue dried up as rates reduced for incentivised sites and the site evolved into what it is now. We could completely change our business model and go and compete with dozens of other sites in the crowded low edge sector or we could ignore the few complainers and continue the way that works for us.

Samarkand

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Quote from: TheQuin on September 14, 2018, 04:23:52 AM

That was the point I just made. You are welcome to do that and there are plenty of sites competing for your business. We offer a different service and that has been very popular and successful for nearly 5 years now.

Yes, I know. But I was under the impression that the house edge was initially much lower and
was raised to 5 % at a later date.

Quote from: broke_tradah on September 12, 2018, 04:58:56 PM

...
Really? Check your history, why dont you go back and see what caused wetsuit to raise the house edge from respectable (0) to #retarded (5%).
...

I don´t doubt that the site is very successful, but I can definitely
understand people, who complain about the house edge @TheQuin

TheQuin

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Quote from: Samarkand on September 14, 2018, 04:20:32 AM

I´d rather play on a site with a 1 % fixed house edge without
any of the mentioned features than at a site with a 5 % house edge that pays for these features.

That was the point I just made. You are welcome to do that and there are plenty of sites competing for your business. We offer a different service and that has been very popular and successful for nearly 5 years now.

Samarkand

sr. member

Activity: 658

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Quote from: TheQuin on September 14, 2018, 04:06:04 AM

...
Our business model uses a 5% house edge to fund a faucet, rewards program and lottery. When people ask about reducing the house edge I ask them which of those things we should remove to pay for it.
...

How about all of them? I´d rather play on a site with a 1 % fixed house edge without
any of the mentioned features than at a site with a 5 % house edge that pays for these features.

Just imagine a newcomer to FreeBitco.in, who plays a few rounds without
even being aware of the rewards program or the lottery. He is essentially paying for
a service that he doesn´t even know about.

The bustabit FAQ puts it quite beautifully if you ask me:

Quote

Be extremely skeptical of generous reward programs, bonuses (e.g. deposit bonuses), affiliate programs and the likes.
The money comes from somewhere: you. Casinos often use these sorts of kick-back programs to distract you from their high house edge.

Topic: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest - page 1199. (Read 559567 times)