Topic: Prcdice closed the investment feature - page 2. (Read 2654 times)

You can try to put prc in the auction forum and see what ppl would bid=P

the funniest part is how in the entire thread is how no one accused you of cheating or scamming.

just quoting this, as your so adorable and can't delete it from your nazi thread

ah, how i miss btc jd, when we could invest in someone who wasn't autistic idiot

Hi, just seen this thread.

I understand the concerns and the questions here.

I have already explained many times why I am making these changes but will post again.

PRC is by far the most trusted Bitcoin dice site. Even though people could rightfully argue that Primedice is the fact is Stunna does not hold on to 5k Bitcoin of other peoples funds. I think that says a lot of how much trust the commity has in PRC.

There's always been people saying I would run with the money once it hits a certain amount. I guess that says a lot more about those people making these claims than it does me.

I have run PRC for over 2 years. Working every single day.

I could have run with the funds at any time.

A few days ago investment was higher than it is now. I disabled the investment button so no new investment could come in and no one could top up their current investment. If you divest now you will not be able to reinvest.

That would be odd behaviour for someone wanting to run with as much money as possible.

Also I stated that at the end of this week 10% of the current investment will be automatically divested and added to the users balance and they can cashout.

That's 477 Bitcoin that will leave the site that I could also have run with.

I will most likely then be removing 10% each week to further reduce the investment and eventually there will be a point where I am the only person funding the site. If PRC does not sell in this time. See this thread for details https://bitcointalksearch.org/topic/pocketrocketscasinoeu-for-sale-3000-btc-profit-bitcoin-gambling-site-1043483

As quoted by allarmus from the main PRC thread here are some of the reasons for these changes:


If I was attempting an exit scam or anything malicious then these changes would not be happening and number 1 would be stupid to do.

The current setup is profitable for me and is risk free. There is no decline in PRC. The wagered and profit is increasing massively, far more than any other Bitcoin dice site. Despite what waterpile claims. Funny all these claims come from people who don't actually check facts/data.

However. I would rather risk my own funds instead of others. I would prefer to have far less invested in PRC that is my own funds than be responsible for $1 million of other peoples money.

Number 3 is part experiment. I have had a few good offers for the sale of PRC. People do keep trying to offer a lower price than what it is worth by using the claim that they think it won't be as successful without investors. I want to show that it would be by bankrolling myself.
That's a huge risk. The site could lose all traffic and then it wouldn't be worth much to a buyer let alone give me any profit.
That's a risk I am prepared to take.

Some offers have asked if they can keep the investment feature. If for some reason a buyer did enable this then that's their choice but there's absolutely no way that current investment funds would change over to a new owner.

As for investing in other sites.
It's obvious that a lot of the funds will move. I don't see that as a threat or a concern to the continued success of PRC.
I do urge anyone considering such a move to really do your research.
PRC has the most invested for a reason.
I could not vouch for any other BTC dice site. That does not mean they are not legit or safe though.
I predicted the last 3 large dice site scams before they happened and many poker sites too.


If this doesn't prove just how trustworthy PRC (me) is then there's no hope for anyone on this forum
Feel free to make your judgement after the current investors withdraw their 5k.


EDIT:
A few other points.
Yes PRC has effectively higher commission than other sites, 25% of profit long term, it also generates far more profit for investors than other sites and also the profit is 20% over the expected value meaning I personally have made far less than I should have.

Having no investors means I don't have to explain every large bet or winning player. Though it's usually trolls that post these accusations but still.

The site will still be provably fair when I bankroll it alone and so there's definitely still no cheating going on like some people think could happen.
Use logic here for a minute ok?
I could run now with 5k Bitcoin or
I could cheat a couple of Bitcoin off of a player when he bets against my own bankroll and risk no one ever playing again?

See how stupid these claims are?

Well he made a good point assuming you are seeing it from a "very long term" because in the end the profit of the site will be just as big as the house edge ( this is theoretically ) so it is correct to assume it is the same however it is not literally the same thing
I would assume that Dean has big stash of investment as well in PRC so using this method will allow him to get more assuming that some high roller wager alot and lost .

The same difference that about "fee" and "house edge" . Those are theoretically the same although it is a slight difference that collecting fee from the winning amount is only for a PvP game thus this means getting risk-free profit from the player instead of house edge for a player vs house game which isnt risk-free at all

But taking 0.25% of wagered is certainly not the same as taking 25% of profit.

Essentially, it nullifies the risk of the owner, and dumps that on the investors. That is, if someone wins big, the owner still gets his portion but from the investors.

Theoretically they are but Im just merely correcting nikona's statement as the other sites are not merely taking 0.1 % of the wagered amount but 10 % of the profit as commission. Most of the other sites dont take risk-free profit so There's abit difference in it and that makes it not the same therefore I corrected it . Anyway what Dean uses is still better than some site that even take cut of their faucet / promotions from the net profit


Theoretically the same but not the same mechanism , as per stated taking from the wagered amount is kinda like risk-free



equivalent to 25 % of the profit

Yes , other sites take 10% of the profits but that also equates to 0.1% of the wagered if it ever happened in that way. 0.25% is equivalent to taking more than 10% of the profits at times.

Well, there are just a few alternatives I am aware of: JD, Bitdice, Safedice, Moneypot, Dadice, SD.
Either the investors choose to stop investing in other sites, or the 4200 btc invested on PRC will move into the above sites.

These two are theoretically the same if you look at this from an infinite time range. (super long term)   In the short term, there will definitely be differences between these two methods.

Another way to look at it is that Dean currently taking 25% of profit.  (but he's taking it risk-free on wagered, which is way better than only taking it on house profits)

It is still profitable for him . He takes 0.25 % of the wagered amount and not to mention he probably has some stash of his own BTC invested on the site as well.
If the investor is still profitable then so does he. The reason of this could be that he is either thinking of "getting more profit" ( he even want to bankroll the new swisssoft game by himself ) or either wanting to prove to a potential buyer that the site could surivive even without crowdfunded bankroll because he insisted on it


Expenses will always be there and it cant be avoided


other sites usually takes 10 % comission of the profit

I understand Dean's move as he was interested in selling the site all together if the bid/buyer was right.  I hope this bodes well for new entrants into the crowdfunded casino space.  I'm actually working on a new casino with a brand new game that will be crowdfunded.  Details coming soon.  Hope there are still lots of interested investors looking for a new game and trusted place to store their coins.

Profit hasn't been stagnant for many months. Few days back I saw that profit for the month of July was 580 bitcoins, so it definitely isn't stagnant. I am sure he is also making good money due to the highest charges on the wagered amount 0.1% on other sites compared to 0.25% on prc.

imo its no longer profitable for him, think about it, the expenses involve in running the website and the man hrs that he worked and if it were profitable for him, he wouldnt decide to make it private plus profit was been like stagnant for many Mos..

Dean has mentioned the reason that this is done (references below)


#3 is most likely the reason why he is doing this as Dean has stated that he only wants a buyer that has funds to bankroll the site himself therefore the concern will be wether PRC will be as successful as it is now if there is no huge bankroll that is funded by the investor but then again the question will be how many BTC will Dean by able to fund this himself assuming all the investor has cashed out.
Plus there is no reason to invest in there because unless someone lost "huge" amount there and not "wager" alot then investor wont be getting profit though


This could be either the reason as he might want to cash the investor out little by little rather than making an immediate statement to cash them out in the future

Yeah I assume this was the reason.


Has PRC issued a update, why they have done this?

Well,isn't the fact that he wants to sell the website the reason of reducing the investment? That's the only reasonable reason I have in mind.

dooglus doesnt put himself at risk with clams and the canadian bitcoin laws

This would be a horrible idea

I am not sure just how many people will invest in JD because dooglus intentionally tried to limit the amount of money he holds for others by only accepting clams instead of bitcoin. Plus clams are not exactly the most liquid altcoin out there, so it would be difficult to transfer money in or out of clams

Hi, I started this thread to keep investors updated and let new people know where we came from historically/financially here: https://bitcointalksearch.org/topic/betterbetsio-invest-in-multiple-casinos-and-apps-at-once-through-moneypotcom-1097541

I waited to do this until one month after we launched BetterBets, after initial business startup had calmed down a little. I think many people may have dismissed us at first but you can see for yourselves the past 72 days (so far) have been very lucrative for investors. Investing with us through Moneypot.com doesn't do anything for BetterBets financially, but for players it allows a larger per bet max payout so it keeps them happy. This is just to give you all an option you may not have realized was available, good luck with your investments gentleman.

-Bjorn

its shocking there hasn't been a site to fill the gap just dice left when they moved to clams, Can someone explain why just dice is traded in clams?

PRC is disappointing, I will be withdrawing my money now.