Just-Dice.com : Invest in 1% House Edge Dice Game - page 84.

oda.krell

legendary

Activity: 1470

Merit: 1007

Quote from: dooglus on October 15, 2013, 04:51:27 PM

Quote from: oda.krell on October 15, 2013, 04:02:15 PM

Good point, I admit.

In the long run I don't think a ratio of 60+k invested vs. below-10k gambled is sustainable, but I guess that's a self-correcting problem Tongue

10k / 60k = 0.166% per day expected return on investment, or 61% per year. 55% after commission.

I'm not familiar with other places to invest Bitcoin. What is the usual rate of return? At what point would JD's expected rate of return become unacceptable?

I don't know. In the "real world", +55% would be pretty fantastic. I just guess in the world of bitcoin, it's not that much, especially considering the (substantial) risk to the investment on j-d. But I can only speak for myself, others might think 55% is more than enough.

EDIT: Wait. Why 55%? It's compounded interest, so: 1.00166^365 ~= 83% before comission

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: oda.krell on October 15, 2013, 04:02:15 PM

Good point, I admit.

In the long run I don't think a ratio of 60+k invested vs. below-10k gambled is sustainable, but I guess that's a self-correcting problem Tongue

10k / 60k = 0.166% per day expected return on investment, or 61% per year. 55% after commission.

I'm not familiar with other places to invest Bitcoin. What is the usual rate of return? At what point would JD's expected rate of return become unacceptable?

TheFuneral

sr. member

Activity: 356

Merit: 250

Quote from: oda.krell on October 15, 2013, 11:41:10 AM

3 days in a row with sub-10k total wagered per day...

I'd really like to see a discussion about realistic ways to increase traffic/total wagered.

Anyone? Dooglus?

I do think you brought up a valid point though. In the past doog mentioned that there would be new changes to the site, increased advertising, and more features and therefore he was going to change commissions from 5% to 10%. Has this happened or has that money just been pocketed instead? I'd like to see ways of increasing volume instead of just mediocrity and acceptance.

oda.krell

legendary

Activity: 1470

Merit: 1007

Good point, I admit.

In the long run I don't think a ratio of 60+k invested vs. below-10k gambled is sustainable, but I guess that's a self-correcting problem Tongue

Otoh

donator

Activity: 3136

Merit: 1167

3 quieter days after one very big one doesn't look too odd to me, especially as these quiet days are still about $1M/day wagered, maybe it's best to just let the site grow at it's own pace rather than try & max it out asap & the attention that would bring if say $10M/day was being wagered & if it was investment would go up so much that returns would prob end up as less than now, but with much increased risk of something going wrong.

oda.krell

legendary

Activity: 1470

Merit: 1007

Look at it in the context of previous daily wagering amounts (even excluding the "whale days") and total amount invested, and it doesn't look that impressive anymore.

We had a nice momentum after nakowa (and maybe mechs), but it seems to have diminished over the last week(s).

Otoh

donator

Activity: 3136

Merit: 1167

Quote from: pascal257 on October 15, 2013, 02:06:11 PM

Quote from: oda.krell on October 15, 2013, 11:41:10 AM

3 days in a row with sub-10k total wagered per day...

I'd really like to see a discussion about realistic ways to increase traffic/total wagered.

Anyone? Dooglus?

Thats nearly $1 million per day?

yep, at current price on Bitstamp of +/- $140 it's $950k - $1.24M, nada shabby

2013-10-12 7484.66775667
2013-10-13 8869.07724321
2013-10-14 6783.98114195

& the whales come every so often not every day, like last Friday was 100678.25598269 btc wagered or over $1.4M with 1% expected house profit being $141,000 approx & 10% of that for doog looks well worth getting out of bed for imo.

pascal257

sr. member

Activity: 493

Merit: 262

Quote from: oda.krell on October 15, 2013, 11:41:10 AM

3 days in a row with sub-10k total wagered per day...

I'd really like to see a discussion about realistic ways to increase traffic/total wagered.

Anyone? Dooglus?

Thats nearly $1 million per day?

oda.krell

legendary

Activity: 1470

Merit: 1007

3 days in a row with sub-10k total wagered per day...

I'd really like to see a discussion about realistic ways to increase traffic/total wagered.

Anyone? Dooglus?

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

Quote from: jgarzik on October 14, 2013, 09:24:38 AM

Hopefully the cold storage is protected by multisig, so that dooglus alone cannot unlock it.

I think the cold storage is controlled by him alone. (With dead man's switch to trusted friend to execute emergency withdrawal script.)

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: pascal257 on October 14, 2013, 01:24:48 PM

Btw are you a US-citizen? Given uvwvj's post, that's an interesting question (and has certainly been answered before)

No. I went snowboarding there once though. California was my first experience of having to stand outside the bar in the snow to smoke. Then it came to the rest of my world. Then I quit.

pascal257

sr. member

Activity: 493

Merit: 262

Quote from: dooglus on October 14, 2013, 01:12:38 PM

Quote from: pascal257 on October 14, 2013, 06:08:55 AM

Quote from: jeffshed on October 14, 2013, 06:07:19 AM

oh well he kind of deserves it to pull off something so clean.

Damn, why didn't someone else already think of that

Not sure if serious, but they did. I've been accused of being nakowa many times. The idea even has its own thread.

Yeah that's what I've been trying to point to.

Btw are you a US-citizen? Given uvwvj's post, that's an interesting question (and has certainly been answered before)

jgarzik

legendary

Activity: 1596

Merit: 1100

Any possibility of getting recent IPs from the server log -- last 7 or 30 days -- and produce an anonymized, by-country summary?

It would be nice to see which countries are most interested in JD. I bet there is some interest in China, even.

(and a Chinese translation might bring more players)

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: pascal257 on October 14, 2013, 06:08:55 AM

Quote from: jeffshed on October 14, 2013, 06:07:19 AM

oh well he kind of deserves it to pull off something so clean.

Damn, why didn't someone else already think of that

Not sure if serious, but they did. I've been accused of being nakowa many times. The idea even has its own thread.

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: romerun on October 14, 2013, 12:18:38 PM

Option 4 unlock nak, let him be himself, once we are down 5000 again no one would care of legal issue.

He has had many accounts locked from gambling in the past. When he wants to play he simply withdraws his balance, makes a new account, and redeposits.

At the moment he seems to be making an effort not to play.

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

Option 4 unlock nak, let him be himself, once we are down 5000 again no one would care of legal issue.

yakuza699

hero member

Activity: 935

Merit: 1002

Quote from: jeffshed on October 14, 2013, 06:11:39 AM

i just feel a little bit sorry for people still invested on the site.....

oh well guess he doesn't need other people invested now

Now it is time to invest in other casinos.

maqifrnswa

sr. member

Activity: 454

Merit: 252

Quote from: ?? on ??

[snip]

Doog has 2 options right now imo

1. GO BIG, Get legal casino license, raise commission hire programmers to help with interface and design, offer rewards jackpots/affliates, become the biggest bitcoin gambling site ever
2. Keep it low key and try to let it run itself, dont do anything to site, raise commission to try to lower "Invested", try to get it about 1/3rd of the size it is - limit investments, lower max profit - whatever it is to contract the beast that is JD

** I think if he needs to make a choice and roll with it either way**
[snip]

option 3: sell the site to someone that wants to do option 1. Simple pricing model places the site at ~BTC15k.

jgarzik

legendary

Activity: 1596

Merit: 1100

Hopefully the cold storage is protected by multisig, so that dooglus alone cannot unlock it.

Progressive

full member

Activity: 181

Merit: 100

Topic: Just-Dice.com : Invest in 1% House Edge Dice Game - page 84. (Read 435457 times)