Topic: 🔶 YOLOdice.com 🔶 suspended on 16st Mar 2021 - page 8. (Read 143533 times)

I agree with you on that, as i said, or tried to, the same reason just-dice switched from btc to clam, as i was told dooglus didnt wanted to take the responsiblity anymore so he switched to a coin with "much" less value, cause people did not want to see the site dying.

If not with ltc or eth, i think there are still altcoins (doge, polkadot, etc) which could be used instead, from what i understood most people love the community of the site and the gui and all other things around that, to abandon it completely would be disappointing, even it is all ethans decision.

cheers, whore-ray

Sad to see YOLOdice close down 
I never really gambled, but it was a good experience being a (BTC) investor since 2017. I'm excited to see what you end up coming up with when you return!


I'm guessing the biggest reason is that Ethan wants to shut down is that he doesn't want to deal with the stress of making sure the balances of all investors (BTC bankroll alone was > 100 BTC, or roughly 5 million USD at current rates) are safe. Continuing with altcoins likely wouldn't solve that issue, especially since ETH & LTC are fairly major coins too.

i do not understand the immense loss of ltc either, even in the end a site makes profit for investors cause variance, compared to other sites i know the investment on them always went back up into positive, after a not so long time but i guess that is pure math that it ended up badly that way on yolo.

its weird you never got an explanation for your losses cause of security reasons. Did you wrote support and if yes, what was the answer ?

best wishes,

whore-ray

I keep some investment in Yolodice, and I must say that I understand why they closing down his business.
After six months, I am at a loss was about -30% in LTC and have some minor profit of around 3% in my Doge investment. If they also operated according to that model and shared profit/loss with investors, then it is expected to close the business there.
Also, I lose there some of my coins due to security reason, I never got a reasonably detailed explanation of what happened and who withdrew my coins from his site.

Here i wonder, is "one" of the reasons you want to suspend the site, the constant complaints / problems, with the high bitcoincoin core fees ?

if yes, why not abandon btc and continue the site with altcoins (ltc, doge, etc). from what i heard just-dice went this way and was successful with it by now (even though clam drops into the cellar, but thats more a coin problem, since it has no say in the cryptosphere).

Also if you pause contests for a while and some other changes to minimize the work for you and scott on the site, you could keep running it, without having the burden to worry on it constantly. Could that be worth a thought ?

greetings, whore-ray

Here i wonder, is "one" of the reasons you want to suspend the site, the constant complaints / problems, with the high bitcoincoin core fees ?

if yes, why not abandon btc and continue the site with altcoins (ltc, doge, etc). from what i heard just-dice went this way and was successful with it by now (even though clam drops into the cellar, but thats more a coin problem, since it has no say in the cryptosphere).

greetings, whore-ray

Obviously this is going to be a sad affair to see yolodice go, but maybe that is the best for the team, it has been getting to a point where it was harder to control something this huge, we are talking about tens of millions of dollars in their responsibility and honestly I wouldn't want that neither. Do not think about just how much was there in the investment, do not think how much people gambled neither, think about how much money was in the wallets of yolodice total, all of it combined, that would be a huge amount and would literally cause people to lose sleep over security of it.

One bad hack and it would all be gone in a second. I think Ethan and the team made a great decision to postpone something like this, it really does ease their minds, and I am sure when the time comes and they are fully gone, it will definitely be a much more relaxed future for them as well. PS: Ethan if you come back with an idea, try to not take this much responsibility because it is really too stressful .

I was trying to win some money again on yolodice and reading this in the chat was quite a thing. I loved this dice site so much, both for its simplicity and for its uniqueness. Only 4 coins, good support, great promos for long-timers etc...
I hope somebody would put some real money on the line and get YOLOdice up and running after March 1st.

Selling for a decent price is going to be extremely complicated because the new buyer is unlikely to have your reputation, which means that they would expect people wagering less and therefore wouldn't be able to offer something attractive to you. I really like being an investor (even if LTC went very bad), but I wouldn't buy the casino because I wouldn't know how to run it nor have your reputation.

It's up to you but I think the optimal solution would be to keep the business but delegate everything or almost everything, so you don't have to spend time on it but you still make some decent money passively.

Just based on Dicesites.com, assuming you weren't providing any bankroll (I will assume that's also the case for Ethreum for simplicity), your expected revenue was 0.5% of what was wagered. Let's use 1-year numbers to have an idea of how much is this.

- BTC: 8175 wagered, 40.875 expected revenue
- Litecoin: 959,381 wagered, 4,796.905 expected revenue
- Dogecoin: 5,187,780,657 wagered, 25,938,903.285 expected revenue
- Ethereum: 136544 wagered, 682.72

To have a better idea of how much was the actual expected revenue we would need to convert those currencies to USD day by day, but I think it's evident that the revenue was huge. I don't know how much are your expenses in terms of cashback and other promotions and some salaries, but I doubt this business can't be run profitably.

If what you don't like is having to take care of too much capital from other people, you could implement something similar to what Bustabit is doing, so that you highly encourage people to divest if there's too much bankroll.

Also consider that if you think you may want to run the business again in the future, it would be much better to keep it running, even if you implement measures to lower bankrolls, as getting traction again in the future would be very costly.

Don't kill the golden goose...

Yeah, he has mentioned it. What I'm thinking is that he just want to see what people can offer for the acquisition of yolodice. And if ever there's an interesting offer and it's hard to decline, he might consider it.

But as he said, it's not for sale. Well, enjoy your holidays Ethan and whatever plans you've got in the future, good luck.

I think that even if any buyer has respectable business, then also, as Ethan said, they must not sell their business to anybody. It took ages for many people to develop such big businesses and yolodice has got enough reputation built already which may not be sold to any other guy because a business run by a good person should only be his, or should me winded up.

Great stand for this salute for having that mindset in you "it's not just about the money" sounds really good to us since reputation really matter the most.

Good luck for new future plans since I know you will be back for sure you are cooking something big here.

Exactly, unless if the buyer was had a business here and also a reputable one, the long-time running gambling site. I guess it is considerable in that case.

I just now heard a gambling site was closing but the reputation remained valuable, I truly salute you Ethan, and your partner on this business. I guess you have other business outside in the crypto world. Hopefully, one of these days you and your partner will change your mind and reoperate this site again.

Farewell to you.

Feeling bad about the site and while goodbyes are never good, we must say it some day, so today is the day. And I agree that selling it to some unknown buyer may have hazardous effects both, to your reputation as well as the site's name if that buyer's intentions are not good or if they are not professional enough to handle the site the way you did. It has many emotions attached, so selling it will not be good for the business and I hope you will make it even better and present us with something that is unavailable in the gambling industry right now.

You're one of the first people I've seen say this publicly and I FULLY agree.

Bitcoin Core fee estimator is like trying to drive on Sunday using Friday's vision... so stupid.

On FreeBitcoins.com, we look at the current blockchain and then put the transactions 0.75MB deep in the chain or the max we spend the max fee.

It works a fuckton better than the Core estimator.

CLAM is a lot less stressful than Bitcorn.

<3

I'm glad y'all are closing in such a classy way.  Congrats and gg!

While I wasn't an active part of YOLOdice's community I still followed you guys pretty closely and I'm really sad to see you go.

Thank you for keeping the site running the way you did, you've been some of the most reliable crypto-casinos operators out there. Kudos!




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1,000 DOGE for YOLOdice, last offer!

It is worth saying that I did not connect with this casino as a frequent player, but I like his words in the extended sense that  have far from the simple sad fact of closing the site, and although there are as always its aspects in the positive or negative sense of the opinions, it is good to be able to finish a project with good reflections, although the "win chance" of tastes does not reach everyone equally.

This hurts when you see the good sites goes down for whatever reasons. The one of the trusted and running form long and also being associated with it for couple of year now, just feel like a part of family member is going away from home for some untold time and do not know when will be back, if it comes back. Had never faced any issues in the campaign or on their site. Had really an amazing and helpful Mods who are always ready to help and go that extra mile to solve your problem. Also, not to forget the great friends on the chat and some crazy times being spend talking to them. Will be missing it.

I was not aware of that, thanks for mentioning it. This does not change what I wrote because that is clearly part of an investment like that: when the variance hit can hit really bad. Of course, not having the actual time for the investment to re-gain from the loss is ugly but that is how it is.
There are no free beers around here