I'm not trying to accuse dicebitco of anything as they are possibly legitimate, but in my opinion pretty much every major scam in bitcoin has occurred when the amount at stake becomes greater than the reputation. Can anyone firmly argue that dicebitco.in has proven themselves trustworthy to handle well over $2M in bitcoin, I don't think anyone would agree with that if weighing the facts alone. The only facts we have is that they ran a litecoin gambling site which had relative success but pales in comparison to the current site they are running and also the fact that dooglus has a small amount invested.
While it's probably true that they didn't prove themselves trustworthy with such a sum, how could they? Presumably only by previously having had such a sum, and returned it. To build trust, you have to be trusted beyond the point you have previously been trusted, and show that such trust was well founded.
When I started running Just-Dice, all people knew about me was that I had been posting stats about SatoshiDice for a year or so on a daily basis (which presumably says more about my mental health than my trustworthiness, since it didn't involve me holding any coins at all) and that I had refunded something like 1700 BTC (worth ~$5 to ~$100 each) from a failed exchange when I could have just kept the coins. So I had shown myself to be trustworthy for around $170k worth of BTC.
Within a week of running Just-Dice people had thrown way more than that at me, hence my doubt about why people were trusting me so much. At the peak I was holding over 50 million dollars' worth of other people's coins. There's no way I had proven that I was trustworthy enough for such a sum (other than by not running at 10, 20, 30, or 40 million dollars worth - but the running joke was always "he's wanting for (n+1) million before he buys his island").
The way I see it, investing in dice sites is a risky business, and everyone needs to take all the risks into account when deciding whether to get involved:
* the house may legitimately lose coins to a big player
* the house may play against them selves and cheat to win investor coins
* the house may just shut down and run off with the coins
The first of these is at least quantifiable using math. The other two are big unknowns (unless you are the house) and so that's where the real risk comes in.
I do have some doubts with this site as I did with
Everydice.
Did you see this post? Apparently they're refunding investors:
https://bitcointalksearch.org/topic/m.8451076Fair enough, I don't see why they wouldn't agree to at least multisig the investments though when you kindly offered. If I was in their position I would have done that without hesitation as it would have been a major boost to investments.
I guess I understand that they are hoping to stand on their own, hopefully this will end well.
I've dealt with the owners of dicebitcoin for 6 months now with advertising and what not.
and ii have to say they are one of the few people i trust.
I think dicebitcoin will be the leader in bitcoin dice and will have $10 million invested soon.
I wonder how much primedice profit is? we will never know....
It isn't really important for private companies to disclose their profit, if someone was so inclined they could probably find my coins.
Also, the issue isn't that they are untrustworthy. I had never made that claim I was rather just bringing light to the fact that maybe it is a bit risky to be trusting new forum members with $2M+. I'm sure you trust them but would you trust them personally with $2M of your own money? I've known people in real life for many years who I'd have trouble trusting with that amount of money.