Quote from: Da_Dice_Staff on May 20, 2015, 09:36:54 AM

Quote from: NLNico on May 20, 2015, 01:54:16 AM

Quote from: NLNico on May 19, 2015, 02:53:28 AM

Quote from: shitaifan2013 on May 16, 2015, 09:17:44 AM

Quote from: dadice on May 15, 2015, 01:10:59 PM

Quote from: NLNico on May 15, 2015, 06:23:33 AM

So since it took 5 days for an email to reach the developer, I am wondering if the development is outsourced or is DaDice truly 1 team that worked together before? Also since there supposed to be 500+ coins invested, I am wondering if there is already a public cold bitcoin address? Thanks.

We'll surely do so Nico. Currently 97% of the bankroll are our own funds. Once we reach a certain level of at least 10% investors funds a public address will be provided.

EDIT: To answer the first part of your post, our developer is part of the team and we have previously worked together. I know him actually since 5+ years.

wait wait wait... that would mean that a single investor or a group of investors would have to risk over 55BTC with you, before you'd be willing to prove that you're solvent?

Agree 100%. I could say a lot about it... but I noticed BR went from 540 to 632, so seems time to make that public cold wallet anyway. I assume we can expect it today/tomorrow, DaDice?

Quote from: dadice on May 19, 2015, 04:26:41 PM

Quote from: AttackDogJerry on May 19, 2015, 01:42:36 PM

....

Look, we don't see any reason why you (or others) should tell us how to run our business. We pay out large withdrawals, as well as smaller ones all day. We have by far the largest advertising and marketing budget of any dice site around. Ask some of our HR in the chat, if they don't receive their withdrawals? Or did anybody complain that we don't process on time and I missed it?

Other dice sites do not publish their cold wallet addresses, so why should we?

We've offered all our investors to have their funds in a dedicated address on request, with a public note to whom the funds belong.

Lol, wow. Currently the BR is actually supposed to be 924 BTC, so definitely more than your 10% mark.

In the Bitcoin community we never care much about regulation and licenses, including gambling licenses and such. We prefer to self-regulate and have math and tools to prove things.

The greatest example of this is the provably fair mechanism. A tool that allows players to ensure they have not been cheated.

For investors unfortunately this is not possible yet. But we do have 1 little thing to at least prove the solvency of a site, a cold public address. It is extremely easy for site owners to setup. And in history there have been only 1 site who suddenly removed the cold public address, DiceNinja, just days before they run with the whole BR.

So first you tell me you are waiting for that magical 10% requirement. Which is completely idiotic already, but okay. Now you have clearly reached that 10% and you are telling me another excuse?!?

"Other dice sites do not publish their cold wallet addresses, so why should we?"

Hereby a list of the most popular dice sites that accepts investors:

- PRC: https://blockchain.info/address/1FhxjhFb1YudGC1vtV4FuLpQc2uHzq3XFd
- Just-Dice: http://clamsight.com/address/xJDCLAMZsZg1YqGytiP9CRzYYdsrJXX9Kh
- SatoshiDice: https://blockchain.info/address/18e5jpfn9zo9GQov1Ks9Pzh6Yam2SvFqqo & https://blockchain.info/address/1GBEAxb91tea1magDAQoKnjx18oH4ax2T3
- BitDice: https://blockchain.info/address/19yR1HxBNy5As4joecih4wgj8Cpe5SdmWk
- Diggit: https://blockchain.info/address/1AqGXXoFRRa27ThqVLfsiPykkp2NC4i7QU (not dice, but has investors)
- Dicenow: https://blockchain.info/address/1FY3J5Zuh7mp7q47brqr4wHUsUTeVLT8hb
- MoneyPot(DustDice/betterbets): https://blockchain.info/address/1QD1u16PFzsmsqdBWJjx2WjSpHstsDX9ST
- SafeDice: https://blockchain.info/address/1SD1ciWyeDNf26YoAUjSsifQZK1ShFJ2s

Do you see the pattern.... all dice sites have public cold wallet addresses! (if they accept investors.) So, again, and please DO answer this question: why don't you have a public cold address like all other dice sites?

With both the silly and wrong excuses for posting a public cold wallet address, I do have to say: Be very careful with this site, I would personally not recommend investing or playing here. Every gambling site with investors should have a public cold wallet address, no excuses!

Self-regulation only works if we actively enforce the few standards in the bitcoin gambling community. Provably fair = a standard, any site that doesn't offer that should be left alone. Cold wallet address = a standard for investor sites, any site that doesn't offer that should be left alone. I do not care at all about any of your other business decisions. But WE, as the community, definitely have a say about these FEW "self-regulation standards" that are used by any other site too.

Of course you can just easily make that cold wallet already (should take like 2 hours max?) and no hard feelings.

A few answers here may be of interest in resolving the above queries and statements

Let us look at an example: A Bitcoin exchange typically offers an instant withdrawal feature, and might be a steward over hundreds of thousands of Bitcoins. To minimize the possibility that an intruder could steal the entire reserve in a security breach, the operator of the website follows a best practice by keeping the majority of the reserve in cold storage, or in other words, not present on the web server or any other computer. The only amount kept on the server is the amount needed to cover anticipated withdrawals.

Q. Is it possible to run away with coins in cold storage?

A. You generate a wallet on the offline computer the same way that you do on an online computer. This makes sure your Bitcoin private keys are in cold storage. You then make a watching-only copy of that wallet to be used imported on the online computer. Using this watching-only wallet, you can generate addresses and monitor payments exactly the same as any other wallet. In order to send money, you will be doing the following:

   Create unsigned transaction (online).
   Sign it (offline).
   Broadcast it (online).

Q. Why other dice sites provide cold storage addresses?

A. Main purpose of cold storage is to ensure protection of coins against hackers, there is NO guarantee of any sort that admin (such as Dean of PocketRocketCasino) won't SCAM you eventually. All the funds in any cold wallet (for instances PocketRocketCasino's one) are as fragile as any ordinary wallet as private key holder can RUN with your coins at any time, there is nothing stopping them from doing so.
Note to the technical sites that should be considered as well.
Let's assume we have only one investor who has invested 100 btc at kelly 10

That's all

So we would have a bankroll of 1000 btc, shown to everyone who would wish to check.
However, the cold wallet would only show 100 btc.
Now, with more and more investors and different kelly selections, the picture is even more bizarre
Like ours:
Bankroll is currently 924
Actually available 546

This means that we still have not reached the 10% originally stipulated

We have another issue as well. Our largest investor in the site does not wish to have this publicly known.

We have the most advanced stats site of any dice site and strive to be as transparent as possible, but we cannot act against the wishes of our members, particularly our largest investor.

As a matter of fact the investor came to our public chat to discuss his concerns and that it was witnessed by many other members. The reason behind the investors statements: Privacy concerns

In addition we have decided to provide each investor who has invested a minimum of 1 BTC their own private cold storage address.

Hey guys @saurav here.I was in the chat at the moment the major investor(name withheld due to his privacy concerns) and steve were having a talk so i got a peek at the messages. Maybe dev can show a screenshot or the chat history or something but this is how it went. The investor requested that although he is a major investor there, he would not like his bitcoins to be placed in the public address. He said that the coins could be traced back to his address , which he would not like because of his privacy concerns. Then another guy offered an advice that they could "mix the coins" , but then there was the problem of huge"transaction fees" and since investors keep divesting and reinvesting those coins , that could be problem again. So thats the reason why there isn't a public address for 10% of the coins. And as steve has already told the 10% mark hasn't been completed because of the investor's request , dadice's investment is still 90%+ of the bank roll. And as steve and dev have already said kelly level can be confusing.
Keep rolling