Quote from: Quickseller on July 08, 2015, 07:01:33 PM

Quote from: leen93 on July 08, 2015, 06:52:34 PM

I invested a certain amount of btc in DADICE at a kelly of 10, as far as I know this means I can only lose 10% of my profit in 1 bet.

Reading their website this was confirmed : https://www.dadice.com/print?investments
The maximum pay-out of the site is calculated by taking the sum of all the investments * risk * 0.01. So imagine we had user A with 10 Bitcoins invested at 1/2 Kelly, B with 10 at 5x and C with 10 at 10x. The maximum pay-out would be:

(10*0.5*0.01) + (10*5*0.01) + (10*10*0.01) = 1.55 Bitcoin

Then someone made 1 bet : #407989150
and my investment went immediately down by 29%
After talking to 1 staff member (M.F., full name and private info known) got the info that max bet is 20 btc and that it is independent of the amount invested. On the question why the above information was on their website and why they mention using the kelly criterion but are not doing that they couldn't give me an appropriate answer. If I ask what would happen if someone would win 100 x 20 btc (and investments would all be negative) he just said : "we will not pay him the won amount".

For this reason I would want to ask them to send me my losses of ca. 2 BTC (only due to allowing a bet which shouldn't be allowed by the kelly criterion) to 1JnKcPAG8pieCdFA23X9yxvwMq5aeB9yqJ, and make their site implement the kelly criterion correctly (or remove every false/misleading information from their website)

*Investments are shown on the website as investment x kelly.

I didn't know it was a secret that they are scamming. I am also not sure why you would invest in their site when they are refusing to disclose their cold storage addresses. Although in theory it should show up when they go to pay out this "player" who "won" on a single bet.

Disclosing cold storage doesn't assure they are trustworthy. Not having implemented the kelly criterion while spreading it out on their website (after discovering more problems like investing right after a big loss and starting with a large profit) is more a red flag for me and I hope they can sort this out soon.