Thanks to Emily Spaven at CoinDesk for a great article on Just-Dice!
http://www.coindesk.com/bitcoin-gambler-cheats-satoshidice-competitor-just-dice-out-of-1300-btc/
And in other news, the whale is back!
Topic: Just-Dice.com : now with added CLAMs : Play or Invest - page 190. (Read 454769 times)
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Why does this site attract so many whales? Because Japan allows whale-hunting.
Phew, site's incredibly slow.
He is up 5000BTC overall I believe.
Your right dooglus, but even if a particular whale never gives back his winnings the word will get out that a particular casino treats whales really well and here is the magic sauce: They attract a lot more whales. Once you have hundreds of whales playing every year it doesn't matter if some never ever give back their winnings, because now you have enough players of that size that the house edge will command more presence.
The problem we have is our most massive whale with around 50% of the entire bankroll of the house is good, he plays until he is up and if he goes down he has enough money to return. Remember when celeste first tried going small with a 600 bitcoin bankroll he lost it all. He has so much bitcoin it gives him so much chance to come back and win. Sure if celeste plays everyday we might get his bankroll, but he might get ours to.
For the house to really win, we need many whales coming to the site and playing all the time. But there are very few celeste sized whales out there. Remember vinka lost 700 bitcoin, maybe if he had another 10,000 stashed away he could come back and at least try to win it. If vinka only had another 500 bitcoin left he might say no, thats going to far I don't want to lose it all.
Given that there isn't any flaw in the randomness this whale should be a goldmine for JD. What is it 3 big loosing sessions he has had sofar, 400 BTC, 600 BTC and 1300 BTC(even thou the investors haven't got credit for that one yet), next time he looses it could very well be in the several thousend BTC region.
Given that there is now flaw in the randomness Celest/cici/nakowa's strategy is pretty bad i would say and he/she really should have lost way more than he/she has sofar and should be way down in the red by several thousand BTC instead of up 2700 BTC or so sofar...
The problem we have is our most massive whale with around 50% of the entire bankroll of the house is good, he plays until he is up and if he goes down he has enough money to return. Remember when celeste first tried going small with a 600 bitcoin bankroll he lost it all. He has so much bitcoin it gives him so much chance to come back and win. Sure if celeste plays everyday we might get his bankroll, but he might get ours to.
Agree with most of the things you said, but I disagree with the last statement. By keeping the max bet size at 1% of the bankroll the house's risk of ruin is negligible (which is something I think a lot of investors haven't realized). If celeste plays with J-D for long enough, the chance of us getting his roll is close to 100%. I want to be invested while that happens.
For the house to really win, we need many whales coming to the site and playing all the time. But there are very few celeste sized whales out there. Remember vinka lost 700 bitcoin, maybe if he had another 10,000 stashed away he could come back and at least try to win it. If vinka only had another 500 bitcoin left he might say no, thats going to far I don't want to lose it all.
Yes, it's all about volume and attracting more players who are prepared to bet hundreds of BTC per roll.
Most gambling casinos, in the real world, have very large reserves. They give VIP treatment to whales, even if the whale takes a large chunk of the casino's money. He has his own room, a waiter that waits beside him to refill his vodka or wine or coke / pepsi / whatever.
The casino makes money from all the other little fish. They occasionally make money from a losing whale. But whales with such large bankrolls tend to have some strategy or luck or whatever it is, that allows them to win.
The casino makes money from all the other little fish. They occasionally make money from a losing whale. But whales with such large bankrolls tend to have some strategy or luck or whatever it is, that allows them to win.
That doesn't sound right to me. Why does the casino comp the whale? It's not because they make lots from small players so they can afford to. It's because they want the whale to keep playing at their place, because they know he'll give his winnings back eventually.
Your right dooglus, but even if a particular whale never gives back his winnings the word will get out that a particular casino treats whales really well and here is the magic sauce: They attract a lot more whales. Once you have hundreds of whales playing every year it doesn't matter if some never ever give back their winnings, because now you have enough players of that size that the house edge will command more presence.
The problem we have is our most massive whale with around 50% of the entire bankroll of the house is good, he plays until he is up and if he goes down he has enough money to return. Remember when celeste first tried going small with a 600 bitcoin bankroll he lost it all. He has so much bitcoin it gives him so much chance to come back and win. Sure if celeste plays everyday we might get his bankroll, but he might get ours to.
For the house to really win, we need many whales coming to the site and playing all the time. But there are very few celeste sized whales out there. Remember vinka lost 700 bitcoin, maybe if he had another 10,000 stashed away he could come back and at least try to win it. If vinka only had another 500 bitcoin left he might say no, thats going to far I don't want to lose it all.
It's because they want the whale to keep playing at their place, because they know he'll give his winnings back eventually.
I'm sure some whales do not. It would be interesting to know the percentage of whales quitting well ahead, as compared to the percentage of smaller players doing the same."Quitting", if only for individual casinos, as gamblers often continue gamble all their life, in a form or another.
whales with such large bankrolls tend to have some strategy or luck or whatever it is, that allows them to win.
Yes. The execution of celeste's 2k BTC winning streak in 20 seconds passes over my comprehension of the mundane. Looks like some form of magic. Most gambling casinos, in the real world, have very large reserves. They give VIP treatment to whales, even if the whale takes a large chunk of the casino's money. He has his own room, a waiter that waits beside him to refill his vodka or wine or coke / pepsi / whatever.
The casino makes money from all the other little fish. They occasionally make money from a losing whale. But whales with such large bankrolls tend to have some strategy or luck or whatever it is, that allows them to win.
The casino makes money from all the other little fish. They occasionally make money from a losing whale. But whales with such large bankrolls tend to have some strategy or luck or whatever it is, that allows them to win.
That doesn't sound right to me. Why does the casino comp the whale? It's not because they make lots from small players so they can afford to. It's because they want the whale to keep playing at their place, because they know he'll give his winnings back eventually.
Yes.
I think the site stats you posted a few days ago breaking down betting into whales vs non-whales already suggests most of J-D's turnover will be from whales.
A casino I did some work for, in the year I was working for them, made about 80% of its profit that year from whales. I don't know if the whales had been particularly lucky or unlucky.
Most gambling casinos, in the real world, have very large reserves. They give VIP treatment to whales, even if the whale takes a large chunk of the casino's money. He has his own room, a waiter that waits beside him to refill his vodka or wine or coke / pepsi / whatever.
The casino makes money from all the other little fish. They occasionally make money from a losing whale. But whales with such large bankrolls tend to have some strategy or luck or whatever it is, that allows them to win.
The casino makes money from all the other little fish. They occasionally make money from a losing whale. But whales with such large bankrolls tend to have some strategy or luck or whatever it is, that allows them to win.
That doesn't sound right to me. Why does the casino comp the whale? It's not because they make lots from small players so they can afford to. It's because they want the whale to keep playing at their place, because they know he'll give his winnings back eventually.
Most gambling casinos, in the real world, have very large reserves. They give VIP treatment to whales, even if the whale takes a large chunk of the casino's money. He has his own room, a waiter that waits beside him to refill his vodka or wine or coke / pepsi / whatever.
The casino makes money from all the other little fish. They occasionally make money from a losing whale. But whales with such large bankrolls tend to have some strategy or luck or whatever it is, that allows them to win.
The casino makes money from all the other little fish. They occasionally make money from a losing whale. But whales with such large bankrolls tend to have some strategy or luck or whatever it is, that allows them to win.
I have done work for casinos before as an external consultant. I don't know if they make most of their profit from whales but I do know it's significant and they try to attract as many whales as they can. They can handle losing money to a particular whale if they have lots of them. They also cap what action they will take from a whale so it won't break them, or spread the risk onto other investors.
Most gambling casinos, in the real world, have very large reserves. They give VIP treatment to whales, even if the whale takes a large chunk of the casino's money. He has his own room, a waiter that waits beside him to refill his vodka or wine or coke / pepsi / whatever.
The casino makes money from all the other little fish. They occasionally make money from a losing whale. But whales with such large bankrolls tend to have some strategy or luck or whatever it is, that allows them to win.
The casino makes money from all the other little fish. They occasionally make money from a losing whale. But whales with such large bankrolls tend to have some strategy or luck or whatever it is, that allows them to win.
Ahh, the variance. It comes in many tastes. Who would have guessed a whale of that size comes up and totally messes the expected house edge?
The house losing 15%+ of its not-so-small bankroll in a couple of days does teach us something new about statistics (and the positive potential of operating a gambling site, to settle with a more motivating theme).
The house losing 15%+ of its not-so-small bankroll in a couple of days does teach us something new about statistics (and the positive potential of operating a gambling site, to settle with a more motivating theme).
I think that many users here that aren't very knowledgeable when it comes to development don't understand that all you're doing when you send BTC to his provided address(es) all that happens is your balance is updated in a database. If the database weren't backed up or a server crash happened and he didn't have the balances of users, you'd all lose your balance.
All your balance is is a # in a database that can be changed at almost any given time.
All your balance is is a # in a database that can be changed at almost any given time.
so basically, the current banking system
either way, how else are you supposed to make off-chain transactions? also most BTC exchanges don't work any differently...
I guess we have have some "proof of balance" if doog says: "I will make a spreadsheet with all user ID's and balance's at this date and time, then publicly release the MD5 hash of the spreadsheet" that way if there is an investigation we know what happened.
Is there any way to recover a lost password?
Email the address in the FAQ and we'll sort something out for you.
Negative balance in your account is because dooglus removed 1300 btc of losses celeste did from the database and you probably withdraw funds between the time celeste lost them and dooglus removed those bets. The 1300 btc celeste had already withdrawn, but by misstake dooglus left them in celestes accout and celeste then bet with those and lost those 1300, later on dooglus choose not to recover those 1300 from celeste the next couple of times he/she has been in so investors and dooglus himself is in total 1300 btc worse at the moment than if celeste did pay properly for his losses.
I was not invested at the time for this mess by the way, i removed my investment directly when i saw nakowa's increadibly luck early on at some high bets that he maby just out of the blue, it looked way to suspicious i think and i divested and withdraw the funds i had at JD from the site.
I was not invested at the time for this mess by the way, i removed my investment directly when i saw nakowa's increadibly luck early on at some high bets that he maby just out of the blue, it looked way to suspicious i think and i divested and withdraw the funds i had at JD from the site.
Just-Dice is now in the debt collection business:
Pay up your negative balance!
Pay up your negative balance!
Just one question, How?
dooglus, I've thought of a new business venture for you - catering to risk-averse investors (1btc max bet, 5% house edge).
I've even thought of a name for it:
"Just-Mice"
5% edge... guess what, Dragons.tl (Dragons Tale) is already doing it!I've even thought of a name for it:
"Just-Mice"
Just-Dice is now in the debt collection business:
Pay up your negative balance!
Pay up your negative balance!
dooglus, I've thought of a new business venture for you - catering to risk-averse investors (1btc max bet, 5% house edge).
I've even thought of a name for it:
"Just-Mice"
5% edge... guess what, Dragons.tl (Dragons Tale) is already doing it! I've even thought of a name for it:
"Just-Mice"
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