Quote from: dooglus on February 07, 2016, 04:04:18 AM

I'm in the process of dropping the maximum "offsite multiplier" for investors on Just-Dice.

About a year ago now I introduced the idea of "offsite investing". The idea was to allow investors to effectively risk coins that they hadn't deposited, with the goal of allowing them to take most of their CLAMs off the site and stake them in a local wallet. CLAM was far too centralised, with some 70% of all the CLAMs sitting in the Just-Dice bankroll, and I was hoping this would help address that problem.

What actually happened was that almost nobody took any of their coins off the site, and everyone just used the offsite investing feature to massively increase the risk they were taking.

So now we find ourselves with around a million CLAMs in the bankroll, and a maximum profit of 400k CLAMs. A single lucky bet could wipe out almost half of the bankroll.

This seems like a bad idea, for various reasons;

  a) In order for investors to get any reasonable share of the site profits they have to dangerously over-extend themselves, risking far too much just to keep up with the other investors.

  b) If any lucky player ever did with the 400k maximum profit, they wouldn't be able to sell their coins for anywhere near as much as they might expect.

  c) Any attempt to dump 400k CLAMs on the exchanges would crash the market hard.

So I'm going to be reducing the maximum offsite multiplier in stages.

The maximum just dropped from 100x to 50x in the last hour, and so the maximum profit per bet is now down to 213k CLAMs. I will continue to drop it over the next few days until it is down to 10x. That will mean investors can risk no more than 5% of their coins per bet.

I expect the max profit even at 10x will be in the region of 50k CLAMs, which is still a very competitive amount to be able to win.

I think this is a good change, and would like to see the offsite multiplier eliminated all together. Just my personal opinion that the offsite option leads to shenanigans, as you identified, but for some reason you're not eliminating it entirely? It's a step in the right direction at least.

Btw, good luck getting the site back up.