Topic: Just-Dice.com : Invest in 1% House Edge Dice Game - page 58. (Read 435353 times)
I just received the following curious business proposition, and thought I ought to share it with you, just in case he completely annihilates my game/business and this holden egg dissapears as fast as it came:
Maybe we should do like some competitors and pay very small amounts of BTC (deposited in their Just Dice accounts) to forums users for having a link to Just Dice in their signature. I bet a high percentage of those that play at Just Dice found the casino in this forums.
I agree with you, a big win function will be great for the site because the site is already so popular. I would see it as a second business line. JD could offer the first big mega lottery in bitcoin land.
We could offer a lottery with lower payout but much higher maximum profit than we have now, without using a jackpot (so it doesn't discourage those that bet first). For example, 90% payout and maximum profit 10% of our total bankroll. So 1/1000000 times a BTC0.003888 bet gives the winner BTC3500. That's like $2450000 at current prices.
I said it before and I'll say it again but what the site really needs is a 99% payback slot machine mechanism. This way people can win the jackpot max profit which makes it more appealing to have a high max profit on the site. Presently, the max profit it isn't of much use for most people.
I have pretty good ideas for implementing such a scheme... I'm sure doog would as well. Hopefully this gets done.
I have pretty good ideas for implementing such a scheme... I'm sure doog would as well. Hopefully this gets done.
Could you please give more information? How would bets work in that slot machine? Fixed amount bets with fixed chance of winning? If that's the case, then it's something similar to what I suggested some posts ago, using the 1/1 000 000 roll.
Its easy. I won't do #s but an approximation could be if you roll:
.0001 = mega jackpot
.0002-.001 = 2nd tier
......etc
20-40 = minimum payout
40.0001-99.9999 = loss
-allow them to roll high or low which would reverse the #s
-allow a few different models which different scales of payouts (i.e. 20% chance to win, 40% chance to win, 60% chance to win something back... even if you win something less than your initial investment which is very prevalent in vegas casino slots)
-allow them to place bets which multiply through... up to a max bet which syncs with the max profit.
I said before this idea is attractive because it allows people to win big money without the need to lose one million times before winning. I could easily get way more detailed on this but I think that gist is enough.
At some point JD may want to set a cap on investor amounts. Especially if BTCs start trading north of $1,000. Who knows what that limit is? But I think around 50,000 to 100,000 coins will do the trick as the largest pools out there are less than that amount. Therefore, JD will have the largest bank roll and will be sustained over time.
Because why?
Because profits will be growing with lottery function and investors will keep dumping funds into it, diluting existing investors. Also, if BTC trades at $10k, that implies a bankroll of half a Bil at 50,000 coins. Isn't that enough? There will not be sufficient new money to utilise max profits.
120,000 coins is of course roughly 1% of all Btcs mined. At that level, the casino would permanently hold 0.5% of all Bitcoins in the universe.
So you claim the profits will grow and new investors will invest and then the previous investors will earn less? First... why are previous investores better than newer ones? And your claim contradicts themselve. If profits grow and new investors come in then everything remains the same for all. If the profits would lower then many would divest which happened when kelly was set to 0.5%.
I think a big maximum win in USD is a real good advertising. Nothing that should be fighted against.
How safe is the website regarding website security and illegal luck games? Is it risky that its a .com, where is the owner living, where its hosted and so on? I have a not small amount invested (others probably have way more) so i would like to know.
The nature of Btc is that previous investors do better than new ones. Yes, this is rent seeking behaviour. If lottery function generates steady profits, I don't want that to be diluted.
I'm sorry but I see no contradiction. Anyway, at 120k coins, that will be over 0.5% of Btc economy. Are real world casinos that well capitalised?
I agree with you, a big win function will be great for the site because the site is already so popular. I would see it as a second business line. JD could offer the first big mega lottery in bitcoin land.
At some point JD may want to set a cap on investor amounts. Especially if BTCs start trading north of $1,000. Who knows what that limit is? But I think around 50,000 to 100,000 coins will do the trick as the largest pools out there are less than that amount. Therefore, JD will have the largest bank roll and will be sustained over time.
Because why?
Because profits will be growing with lottery function and investors will keep dumping funds into it, diluting existing investors. Also, if BTC trades at $10k, that implies a bankroll of half a Bil at 50,000 coins. Isn't that enough? There will not be sufficient new money to utilise max profits.
120,000 coins is of course roughly 1% of all Btcs mined. At that level, the casino would permanently hold 0.5% of all Bitcoins in the universe.
So you claim the profits will grow and new investors will invest and then the previous investors will earn less? First... why are previous investores better than newer ones? And your claim contradicts themselve. If profits grow and new investors come in then everything remains the same for all. If the profits would lower then many would divest which happened when kelly was set to 0.5%.
I think a big maximum win in USD is a real good advertising. Nothing that should be fighted against.
How safe is the website regarding website security and illegal luck games? Is it risky that its a .com, where is the owner living, where its hosted and so on? I have a not small amount invested (others probably have way more) so i would like to know.
I said it before and I'll say it again but what the site really needs is a 99% payback slot machine mechanism. This way people can win the jackpot max profit which makes it more appealing to have a high max profit on the site. Presently, the max profit it isn't of much use for most people.
I have pretty good ideas for implementing such a scheme... I'm sure doog would as well. Hopefully this gets done.
I have pretty good ideas for implementing such a scheme... I'm sure doog would as well. Hopefully this gets done.
Could you please give more information? How would bets work in that slot machine? Fixed amount bets with fixed chance of winning? If that's the case, then it's something similar to what I suggested some posts ago, using the 1/1 000 000 roll.
I said it before and I'll say it again but what the site really needs is a 99% payback slot machine mechanism. This way people can win the jackpot max profit which makes it more appealing to have a high max profit on the site. Presently, the max profit it isn't of much use for most people.
I have pretty good ideas for implementing such a scheme... I'm sure doog would as well. Hopefully this gets done.
I have pretty good ideas for implementing such a scheme... I'm sure doog would as well. Hopefully this gets done.
JD can add lottery function as second biz line as it is already such a popular site. Lotto earnings can be split between lotto buyers, JD investors and a charity.
This will stabilise earnings for JD investors and keep JD provably fair and transparent. I.e. the lotto is a service paying a small regular income to JD investors as a bonus for keeping their investments longer.
This will stabilise earnings for JD investors and keep JD provably fair and transparent. I.e. the lotto is a service paying a small regular income to JD investors as a bonus for keeping their investments longer.
+1, we could get much more use from our invested money, we should give more options for players. What we want is to increase wagered amount per day as much as possible.
Dooglus, where are you?
At some point JD may want to set a cap on investor amounts. Especially if BTCs start trading north of $1,000. Who knows what that limit is? But I think around 50,000 to 100,000 coins will do the trick as the largest pools out there are less than that amount. Therefore, JD will have the largest bank roll and will be sustained over time.
You are right, and the market already adjusts to that. If bankroll keeps increasing in comparison to the wagered bets, then your expected return as investor decreases, so you are more likely to divest and invest in a different place. For some people, we are already at that point, as the average daily wagered amount keeps decreasing. Another point is that once bankroll becomes too large in terms of fiat, people may be more worried about the casino stealing it, which also lowers the bankroll.
At some point JD may want to set a cap on investor amounts. Especially if BTCs start trading north of $1,000. Who knows what that limit is? But I think around 50,000 to 100,000 coins will do the trick as the largest pools out there are less than that amount. Therefore, JD will have the largest bank roll and will be sustained over time.
Because why?
Because profits will be growing with lottery function and investors will keep dumping funds into it, diluting existing investors. Also, if BTC trades at $10k, that implies a bankroll of half a Bil at 50,000 coins. Isn't that enough? There will not be sufficient new money to utilise max profits.
120,000 coins is of course roughly 1% of all Btcs mined. At that level, the casino would permanently hold 0.5% of all Bitcoins in the universe.
At some point JD may want to set a cap on investor amounts. Especially if BTCs start trading north of $1,000. Who knows what that limit is? But I think around 50,000 to 100,000 coins will do the trick as the largest pools out there are less than that amount. Therefore, JD will have the largest bank roll and will be sustained over time.
Because why?
JD can add lottery function as second biz line as it is already such a popular site. Lotto earnings can be split between lotto buyers, JD investors and a charity.
This will stabilise earnings for JD investors and keep JD provably fair and transparent. I.e. the lotto is a service paying a small regular income to JD investors as a bonus for keeping their investments longer.
This will stabilise earnings for JD investors and keep JD provably fair and transparent. I.e. the lotto is a service paying a small regular income to JD investors as a bonus for keeping their investments longer.
+1, we could get much more use from our invested money, we should give more options for players. What we want is to increase wagered amount per day as much as possible.
Dooglus, where are you?
At some point JD may want to set a cap on investor amounts. Especially if BTCs start trading north of $1,000. Who knows what that limit is? But I think around 50,000 to 100,000 coins will do the trick as the largest pools out there are less than that amount. Therefore, JD will have the largest bank roll and will be sustained over time.
JD can add lottery function as second biz line as it is already such a popular site. Lotto earnings can be split between lotto buyers, JD investors and a charity.
This will stabilise earnings for JD investors and keep JD provably fair and transparent. I.e. the lotto is a service paying a small regular income to JD investors as a bonus for keeping their investments longer.
This will stabilise earnings for JD investors and keep JD provably fair and transparent. I.e. the lotto is a service paying a small regular income to JD investors as a bonus for keeping their investments longer.
+1, we could get much more use from our invested money, we should give more options for players. What we want is to increase wagered amount per day as much as possible.
Dooglus, where are you?
P(Has gambling addiction) > P(Has a brother) * P(Brother has gambling addiction)
P has a brother who is a thief and a degenerate gambler, but P does not want to turn him in because all his troubles will eventually go away by themselves.
JD can add lottery function as second biz line as it is already such a popular site. Lotto earnings can be split between lotto buyers, JD investors and a charity.
This will stabilise earnings for JD investors and keep JD provably fair and transparent. I.e. the lotto is a service paying a small regular income to JD investors as a bonus for keeping their investments longer.
This will stabilise earnings for JD investors and keep JD provably fair and transparent. I.e. the lotto is a service paying a small regular income to JD investors as a bonus for keeping their investments longer.
P(Has gambling addiction) > P(Has a brother) * P(Brother has gambling addiction)
I'm not familiar with gambling sites: does just-dice, being more friendly, have the unfortunate side-effect of attracting beggars with more-or-less plausible stories, or is it usual anyway?
Just-Dice is the only big gambling site where investments are open to the public. If a beggar would contact, for example, PrimeDice, Stunna would just handle it and noone would hear about it. Since gambling profits on JD are earned by its investors, Dooglus and Deb have the tendency to post these requests on the forum and let individual investors make their own decission.
Don't know how others feel about such stories, but if any of these requests would be honored by Just-Dice I would divest immediately.
JD doesn't honour these requests beyond the point of posting it on the forum. If someone loses 10 BTC on JD, then the vast majority of it is won by investors. So investors should choose if a particular sob-story is worth a donation or not. That's why Doog and Deb just forward these types of requests directly to this thread, where investors can make their own choice.
I'm not familiar with gambling sites: does just-dice, being more friendly, have the unfortunate side-effect of attracting beggars with more-or-less plausible stories, or is it usual anyway?
Just-Dice is the only big gambling site where investments are open to the public. If a beggar would contact, for example, PrimeDice, Stunna would just handle it and noone would hear about it. Since gambling profits on JD are earned by its investors, Dooglus and Deb have the tendency to post these requests on the forum and let individual investors make their own decission.
Don't know how others feel about such stories, but if any of these requests would be honored by Just-Dice I would divest immediately.
I'm not familiar with gambling sites: does just-dice, being more friendly, have the unfortunate side-effect of attracting beggars with more-or-less plausible stories, or is it usual anyway?
Just-Dice is the only big gambling site where investments are open to the public. If a beggar would contact, for example, PrimeDice, Stunna would just handle it and noone would hear about it. Since gambling profits on JD are earned by its investors, Dooglus and Deb have the tendency to post these requests on the forum and let individual investors make their own decission.
I'm not familiar with gambling sites: does just-dice, being more friendly, have the unfortunate side-effect of attracting beggars with more-or-less plausible stories, or is it usual anyway?
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