If I was to invest I would want at least 15%/year to offset the risk
Then you shouldn't invest.
Average return over the last 6 month compared to the current invest amount is around 11 %
Topic: Just-Dice.com : Invest in 1% House Edge Dice Game - page 32. (Read 435353 times)
Then you shouldn't invest.
Average return over the last 6 month compared to the current invest amount is around 11 %
Interesting to know over a 2 week period, thank you - it's just on the edge of being worthwhile then 
11% a year is a good return, but the risks involved in investing in a site like JD are absolutely huge.
Being realistic the stock market should return 7%, maybe more on average, and is an incredibly safe investment in comparison. Plus any companies you invest with would insure your money up to a certain amount. If there's a fire at doog's place, or something happens to doog, or doog decides he's had enough... then we're all screwed.
(like I said, personally I trust him, but after what has happened at other Dice sites people should be wary)
Being realistic the stock market should return 7%, maybe more on average, and is an incredibly safe investment in comparison. Plus any companies you invest with would insure your money up to a certain amount. If there's a fire at doog's place, or something happens to doog, or doog decides he's had enough... then we're all screwed.
(like I said, personally I trust him, but after what has happened at other Dice sites people should be wary)
The risk is definitely there but the return is there too
I made a little calculation the other day : On the last 14 days 2190BTC were wagered everyday in average so an expected profit of 21.9BTC/day or 657BTC/month => 1.4%/month or 18%/year with the compounded interests
If I was to invest I would want at least 15%/year to offset the risk
11% a year is a good return, but the risks involved in investing in a site like JD are absolutely huge.
Being realistic the stock market should return 7%, maybe more on average, and is an incredibly safe investment in comparison. Plus any companies you invest with would insure your money up to a certain amount. If there's a fire at doog's place, or something happens to doog, or doog decides he's had enough... then we're all screwed.
(like I said, personally I trust him, but after what has happened at other Dice sites people should be wary)
Being realistic the stock market should return 7%, maybe more on average, and is an incredibly safe investment in comparison. Plus any companies you invest with would insure your money up to a certain amount. If there's a fire at doog's place, or something happens to doog, or doog decides he's had enough... then we're all screwed.
(like I said, personally I trust him, but after what has happened at other Dice sites people should be wary)
To be fair, to have over 50k invested on a site where you expect, on average, to have around 15 profit a day is insane. The amount of risk involved in investing in a site like this is huge, just look at the other Dice sites and you'll know what I mean.
That's almost 11% a year. Not a bad return, but the risk is indeed to big for the reward.
To be fair, to have over 50k invested on a site where you expect, on average, to have around 15 profit a day is insane. The amount of risk involved in investing in a site like this is huge, just look at the other Dice sites and you'll know what I mean.
But plenty of people trust dooglus, and tbh rightly or wrongly, I'm one of them
But plenty of people trust dooglus, and tbh rightly or wrongly, I'm one of them
Why would you like to regulate the free market. Yes, although as a long term investor which never divest. I have vested interest on this rule. While one would leave the game when the profitability is too low and switch to other places (like dicenow.com for me, they even offer leverage option by up to 10x)
Also, if you have heard of BTC-DICE (a shameless ripoff of just-dice by another Chinese, stock listed on 796.com), they limited the max invest amount when they launch (they claim it is for the purpose of testing the system without over risking themselves). While the result is that everyone is always pinging the server to wait for any new people to divest.
tl;dr: Don't fuck with free market
Just Dice is not a free market. Just Dice is an autocracy where dooglus decides what he wants. He's a good autocrat so far, we all agree on that.
If he decide to give a chance to smaller investors to get a decent revenue, that's his choice, if he decides to apply the "free market rule" to his site, that's his choice.
The problem of pinging the site for free invest slots is not a problem. He could implement an "auto invest" system with a parallel queue.
**snipped image**
invested amounts are going up like crazy since last week. there was much publicity on reddit about user theymos bets of Fri, Jun 6. could this bring that much investments? also, part of invested amounts are likely to be wagered at some point.
what other conclusions can be made?
invested amounts are going up like crazy since last week. there was much publicity on reddit about user theymos bets of Fri, Jun 6. could this bring that much investments? also, part of invested amounts are likely to be wagered at some point.
what other conclusions can be made?
I'd suggest 2 things :
- Limit the maximum invested amount to 50k BTC (any excess BTC won by the investors would be automatically divested) you could only invest when the amount is lower than 50k BTC
- Etiquette rule that limit 1k BTC invest amount / person (Etiquette rule because that's basically impossible to enforce since one could make multiple accounts...)
At the moment, the 1% richest BTC holders are taking all the profits for themselves...
Also, if you have heard of BTC-DICE (a shameless ripoff of just-dice by another Chinese, stock listed on 796.com), they limited the max invest amount when they launch (they claim it is for the purpose of testing the system without over risking themselves). While the result is that everyone is always pinging the server to wait for any new people to divest.
tl;dr: Don't fuck with free market
Yeah, I've more than tripled my investment since I started, yet my total % of the amount invested it way lower than it was back then. I guess the only way around it is to try to get more people paying, rather than investing somehow. But I think generally the mindset is a little different.
**snipped image**
invested amounts are going up like crazy since last week. there was much publicity on reddit about user theymos bets of Fri, Jun 6. could this bring that much investments? also, part of invested amounts are likely to be wagered at some point.
what other conclusions can be made?
invested amounts are going up like crazy since last week. there was much publicity on reddit about user theymos bets of Fri, Jun 6. could this bring that much investments? also, part of invested amounts are likely to be wagered at some point.
what other conclusions can be made?
I'd suggest 2 things :
- Limit the maximum invested amount to 50k BTC (any excess BTC won by the investors would be automatically divested) you could only invest when the amount is lower than 50k BTC
- Etiquette rule that limit 1k BTC invest amount / person (Etiquette rule because that's basically impossible to enforce since one could make multiple accounts...)
At the moment, the 1% richest BTC holders are taking all the profits for themselves...
http://i.imgur.com/eGDIlzZ.png
invested amounts are going up like crazy since last week. there was much publicity on reddit about user theymos bets of Fri, Jun 6. could this bring that much investments? also, part of invested amounts are likely to be wagered at some point.
what other conclusions can be made?
invested amounts are going up like crazy since last week. there was much publicity on reddit about user theymos bets of Fri, Jun 6. could this bring that much investments? also, part of invested amounts are likely to be wagered at some point.
what other conclusions can be made?
The thing is, that dooglus can invest 100% of his BTC on his site. No-one else can/should do that for obvious reasons.
So it is in his best intrest to keep the most focus on just-dice and maximize his profits per hour, instead of getting himself into a shit-load of work just to earn some extra BTC.
So it is in his best intrest to keep the most focus on just-dice and maximize his profits per hour, instead of getting himself into a shit-load of work just to earn some extra BTC.
I'm definitely interested in a site so PM me as well. Personally after LTC I would look to just become the cryptsy of dice. Add every coin under the sun. I'm not a believer in any of them but profit is profit, turn the alt coins into BTC the day commission is taken.
I don't think that would be worth it. Too many management, technical and support issues if dooglus made the site accept not just several altcoins. I'd say, just accept the most popular ones like LTC, maybe NXT as well and wait for any others rising up in popularity.Or just keep the BTC (for the rich)/DOGE (for the poor) and HUC for the hard working
Guy's doog has a beer taste and 4,000+ BTC. I would put my money on that he isn't going to make shit else for alts.
I was just tickled shitless that he made "way she goes" link!! Yay for small victories!
I'm definitely interested in a site so PM me as well. Personally after LTC I would look to just become the cryptsy of dice. Add every coin under the sun. I'm not a believer in any of them but profit is profit, turn the alt coins into BTC the day commission is taken.
I don't think that would be worth it. Too many management, technical and support issues if dooglus made the site accept not just several altcoins. I'd say, just accept the most popular ones like LTC, maybe NXT as well and wait for any others rising up in popularity. 
I'm definitely interested in a site so PM me as well. Personally after LTC I would look to just become the cryptsy of dice. Add every coin under the sun. I'm not a believer in any of them but profit is profit, turn the alt coins into BTC the day commission is taken.
Like LTC or not...it is not going anywhere. Seems pretty silly to think that only BTC has a use and the rest is useless.
Just to add my 0.02, I would invest in LTC dice, at the moment my LTC is just sitting dormant.
A lot of us would
Doge has a huge community but LTC has a big one as well
LTC fans are seriously convinced that LTC is [innovative|the next big thing|silver to Bitcoin's gold] or other crap like that, while reality is that it's just a copy+paste coin like dozens and dozens of others. Actual worth: ZERO.
doge is another copycat, but it's born from the lulz, for the lulz. Its innovation isn't in the coin per-se, but in a bizarre "marketing" which is basically "we know it doesn't make sense but lolz". So it's a joke, but its fans know it's a joke, so it's fine.
Disclaimers:
1. I'm not sure if this is doog's line of reasoning as well
2. Likely I won't bother to reply to LTC delusional fans
Exactly. Problem is the LTC guys are just not willing to accept the facts, best seen buy their true belief that their coin would be as bitcoin once MtGox puts it on their exchange.
Like it or not, believe in it or not, LTC is the biggest ALT coin with a market cap almost 5 times higher than the next ALT (which is Nxt).
Disclaimer: I am not an LTC "fanboi", just invested to hedge my bets
Just to add my 0.02, I would invest in LTC dice, at the moment my LTC is just sitting dormant.
A lot of us would
Doge has a huge community but LTC has a big one as well
LTC fans are seriously convinced that LTC is [innovative|the next big thing|silver to Bitcoin's gold] or other crap like that, while reality is that it's just a copy+paste coin like dozens and dozens of others. Actual worth: ZERO.
doge is another copycat, but it's born from the lulz, for the lulz. Its innovation isn't in the coin per-se, but in a bizarre "marketing" which is basically "we know it doesn't make sense but lolz". So it's a joke, but its fans know it's a joke, so it's fine.
Disclaimers:
1. I'm not sure if this is doog's line of reasoning as well
2. Likely I won't bother to reply to LTC delusional fans
Exactly. Problem is the LTC guys are just not willing to accept the facts, best seen buy their true belief that their coin would be as bitcoin once MtGox puts it on their exchange.
Just to add my 0.02, I would invest in LTC dice, at the moment my LTC is just sitting dormant.
A lot of us would
Doge has a huge community but LTC has a big one as well
LTC fans are seriously convinced that LTC is [innovative|the next big thing|silver to Bitcoin's gold] or other crap like that, while reality is that it's just a copy+paste coin like dozens and dozens of others. Actual worth: ZERO.
doge is another copycat, but it's born from the lulz, for the lulz. Its innovation isn't in the coin per-se, but in a bizarre "marketing" which is basically "we know it doesn't make sense but lolz". So it's a joke, but its fans know it's a joke, so it's fine.
Disclaimers:
1. I'm not sure if this is doog's line of reasoning as well
2. Likely I won't bother to reply to LTC delusional fans
Just to add my 0.02, I would invest in LTC dice, at the moment my LTC is just sitting dormant.
A lot of us would
Doge has a huge community but LTC has a big one as well
LTC fans are seriously convinced that LTC is [innovative|the next big thing|silver to Bitcoin's gold] or other crap like that, while reality is that it's just a copy+paste coin like dozens and dozens of others. Actual worth: ZERO.
doge is another copycat, but it's born from the lulz, for the lulz. Its innovation isn't in the coin per-se, but in a bizarre "marketing" which is basically "we know it doesn't make sense but lolz". So it's a joke, but its fans know it's a joke, so it's fine.
Disclaimers:
1. I'm not sure if this is doog's line of reasoning as well
2. Likely I won't bother to reply to LTC delusional fans
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