Quote from: ranochigo on June 23, 2015, 03:02:16 PM

Quote from: ranlo on June 22, 2015, 09:30:09 AM

Quote from: Bizmark13 on June 22, 2015, 09:06:23 AM

Quote from: subSTRATA on June 22, 2015, 08:07:35 AM

true, and all of these risks can be minimized with transparency; if the site shows their bankroll at all times as well as proof of funds, investors can see for themselves weather or not the site's investment system is legitimate or not. i believe the lack of this transparency was why dadice decided to halt their investment option as well

Dicebitco.in offered exactly that but it still ended up making its investors lose money. It offered proof of funds and the size of the bankroll was always shown on the upper left corner of the site:

Quote from: DiceBitcoin on July 29, 2014, 08:33:11 PM

Proof of funds and an already starting bankroll of ~~3000~~ 7500+ BTCs! Yes, SEVEN thousands five hundred. . Our COLD wallet --> https://blockchain.info/address/19tQNCrmaW6EADfJrtBaRixRkPyVrvb6yk

Quote from: DiceBitcoin on July 29, 2014, 11:21:38 PM

Just passed 1k+ Bets in less than 3h O_o

Quote from an article on the site's demise:

Quote from: CoinTelegraph

Since the beginning of the authorship of this article, DiceBitco.in owners manl and gerry have stopped responding to users on Bitcointalk and a player, going by the name mateo, has continually placed bets with a near perfect win ratio, emptying the site and stealing the entireity of investor funds.

Link: http://cointelegraph.com/news/112470/dicebitcoin-accused-of-cheating-players

Many others fell from the same thing. Even TF's sites got raped. The only truly safe place for your money is in your own hands.

Coinbase offers insurance, but if you read what they say, if their service was hacked or someone found a way to exploit addresses to wipe them out, insurance would not cover the situation.

The interesting part is that doolgus trusted it and everyone just followed him. Investing in a gambling site may not be the best way to earn a profit. The owner can see the seeds and predict the rolls hence cheating investors. This is the main reason why primedice don't have a investor option. Security wise, the cold storage is intended to be secure. If one properly generated a cold storage address, the probability of it getting hacked is very low. In TF's accident, the majority of coins wasn't kept in cold storage which would be much much more secure.

It was interesting to see that TF *didn't* have them in cold storage. It was pretty up on security, and even advised everyone else to store theirs in cold storage, and called out the sites that didn't (as well as notifying other site owners about their exploitable security holes). It was just overall a pretty bad situation.