Ninjastic
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Board Scam Accusations
Re: SatoshiDice Investor Scam
by
bravehearth0319
on 20/01/2017, 14:36:11 UTC
Quote from: cryptoGsus on January 19, 2017, 09:20:09 PM
Background
As you may be aware, a user on SatoshiDice had a BIG win recently.

On January 11, 2017, Underdog01253 (user ID 2789717) placed a bet of 0.25 BTC and won a x1215.92 multiplier to walk away with a whopping 303.73 BTC.

This bet was placed on SatoshiSlot which shares the same bankroll as SatoshiDice.


Here's the scam
SatoshiDice claims they employ the Kelly criterion to limit the maximum profit to 1.9% per bet.
Quote from: www.satoshidice.com
Satoshi Dice keeps the maximum profit a player can make on a bet to 1.9% of the bankroll (employing the Kelly criterion).

How did they allow this user to win ~14% of the bankroll in a single bet?

If the player placed a bet of 0.25BTC and won a x1215.92 multiplier well this is not a joke amount of winning. Its a big amount of bitcoin take note not satoshi. I don't know if this is only a way of hyping the people just to seek more player to play in the games. Do you have any proof of this things?