Topic: 🔶 YOLOdice.com 🔶 suspended on 16st Mar 2021 - page 201. (Read 143533 times)

Yes exit scams happen, but only with small sites, because they can't get enough players to be profitable. But yolodice is new site, and they already have loads of players. The site takes 10% commission, but they're also investors, so in reality they're making much more money.

You must be new here. Exit scams happen all the time in Bitcoin. There have been dice sites that exit scammed without legal consequences.

As for your claim that "They can make more money if the site is keep growing", let's look at it.

Someone recently suggested that the site makes 6% per month returns on its bankroll. The site itself only takes a 10% commission, so the site is earning 0.6% per month. That means that if things stay at their current state it will take 100/0.6 = 167 months = 14 years for the site to earn as much as is currently in the bankroll. So the choice is between stealing the bankroll right now, or working hard for 14 years, for the same return. I realize I'm ignoring the fact that a lot of the bankroll isn't real money, but is leveraged funds, that the 6% per month if real is unsustainable, and that the site is currently paying more in referral payments than it is collecting as commission but I think my point is still illustrative of the fact that exit scamming is lucrative compared to running an honest site.

If the site does keep growing, then presumably so does the bankroll along with the betting volume. The amount that can be stolen increases along with the weekly commission amount. Perhaps your statement would be better written like this:

"They can make more money by growing the site for a year before stealing the bankroll than if they steal it right now"

I'm not saying that YoloDice is planning to exit scam. I don't know if they are or not, and neither do you. All I'm saying is that your argument is invalid, that exit scamming pays well, that it has happened before, and that the scammers were never (to my knowledge) caught.

If this is the way you think about investing in Bitcoin your are in trouble. Nothing in the world is going to give you 6% guaranteed returns a month with low risk...

An exit scam would not be profitable for the site owners. They can make more money if the site is keep growing and there are more players and investors. + This is not some deepweb site, so there would be legal consequences, so I think it's very unlikely.

What do you mean by "any space left for investors and How can you become an investor? Are you asking that you want to be an investors in Yolodice? or in other coins which you like to buy. If you like to try to put some investment in yolodice, Once you deposit on there gambling sites you are already an investors. then once you get in, enjoy the place in Yolo games.

Website bet system is really great, I tried it many times, and it's always fine, I just want to say that in some old mobile devices, the website don't work fine, as there is a loading page at start.
But except this, it's a good website with a lot of potential.

Don't mind him he's always like that xD
Anyway I'd say the correct answer depends on the size of the bankroll.
As current bankroll is a bit small it'd be better to invest at 1* or 2* for a long term investment. Risk of a big player taking out 10% of the bankroll is real.
While when the bankroll has grown a little I agree with Dooglus, better invest less at high leverage because hacking risk becomes bigger than the melting of the bankroll

I was talking specifically about site profits which is why I made that recommendation.  Not the legitimacy of whatever site the person is investing in.


Why do you have to nitpick everything I say?  What have I ever done to you?...

I'm quite passionate about gambling, it is aleatory, but I still like. Yolodice is a very good gambling sites. I have tried to play, what I like most in Yolodice is the rapid pace of Yolodice, bet and get rewarded quickly. Account is also protected by 2FA make better security, helping players avoid account loss. Another thing I liked is Yolodice chat function, players can talk to or share experiences with each other, this is very useful. In the near future I will play Yolodice more and I hope to win many victories

Completely agree on the 10x logic dooglus.

What do you think of our Bitcoin Gambling Investment Experiment? https://bitcointalksearch.org/topic/bitcoin-gambling-investments-1585408

What sites would you consider adding?

I wouldn't recommend investing at 1x to anyone.

It is safer to invest 10 times less value at 10x. That way if the site is hacked you lose 10 times less, while still having the same share of site profits.


That is very unlikely to be the case. Where did you get this 6% per month number from?

It sounds like you're looking at past performance and expecting it to be the same going forward. There is no reason at all to expect that to be the case.

Mathmatically if you plot a graph with the house edge for a player the longer they play the closer the graph goes to 0% then after that it starts to go -% and that is the house edge. Even though some players are luckier then others the profits over time should be steady. The profits will be at average 6% per month over the period of a few months. Its a good investment.

The leverage multiplier just makes it as of you had that amount of bitcoin invested but that means when you take hits your balance takes the same amount. That's a bit of a gamble but might be worth it.

Definitely it's based on your targeted amount, if you target for a better return and you only have that investment to offer, I would say do not play safe, besides, every spin you have the advantage so for sure in the long run, you will still in the profit. Further, the 6% profit in a month does not mean it will double in the next month, it could increase or decrease depending on the number of bettors will come and depending on the luck of the bettors.

That 6% estimate is solely based on profits so far.  Investing will always amount to some sort of risk.  But if you want to invest your 0.45 BTC, the safest option in terms of leveraging is a 1x leverage.  Using a higher leverage means the potential for larger returns, but also increases your risk of loss.  If you plan on being a long-term, steady investor, I'd recommend just investing at 1x.

Tbh I still didn't understand. Let me specify a bit more I have 0.45 btc and I want to invest on their site I saw it is showing 6% in 30 days so does that mean that if I keep for 12 months my investment will increase by 72% and which is the safest I don't want to lend and stuff I only want to know how can I receive 6% interest per month.

The House Edge was always 1%, it was never higher than that.  I was here the day YD opened publicly and the House Edge was 1% then too, so I have no idea what you mean.

You can still invest, and it's pretty easy to do so.  Just click the Invest section of YD, and it will explain it there, as well as in the FAQ.  You can invest as little as 0.01 BTC.

To explain it briefly, you basically pick the amount you want to invest, and how much leverage, if any.  Leveraging is basically borrowing from the house to increase your investment.  For example, a 1x investment is no leverage, meaning it's 100% your money, and you would only lose 100% of your investment if the house lost 100% of its bankroll.  Say you invest 0.05 on a 5x leverage; the house lends you 0.20 for a total of 0.25 invested, however, if the house loses 20% of its effective bankroll, you lose your whole investment.

It's basically a way for users and investors to manage the amount of risk and returns they want to take.


~Randall

I also had one last question could you tell me is there any space left for investors and also how do I become investor I didn't understand.

Played the other day and actually won most if not all of my rolls.
I think the change in the house edge done before this attempt at winning worked!
Thanks to Ethan for the update to the 3% to the 1% where it should be.

indeed, i think 1% is enough too, because for 0.1 btc, we can get at least 0.001 btc so it still worth it for long term. the only our concern is when the site is getting scam and we should worried about this because what we invest is gone with the site.