Currently under maintenance.
Once back up,
Change of app commission to 40% from 50%
Change of moneypot commission to 10% from 20%.
Investors are now exposed to 50% of the house edge from 30%.
This will be in effect until 1 Billion bets is reached, in which a 10% divestment fee will be placed on investor profit for apps and moneypot.
Can you explain the latter? Perhaps with an example?
Before this update:
Player 'X' bets 100 Bitcoin at a 1% house edge.
App Owner where bet is placed would receive 50%: 100 BTC * .01 (house edge) * .5 (app commission) = 0.5 Bitcoin
Moneypot would receive 20%: 100 BTC * .01 * .2 = 0.2 Bitcoin
Investor would stand to make a theoretical 0.3 Bitcoin based off leftover exposure to house edge.
After this update:
Player 'X' bets 100 Bitcoin at a 1% house edge.
App Owner makes 40%: 100 BTC * .01 * .4 = 0.4 Bitcoin
Moneypot makes 10%: 100 BTC * .01 * .1 = 0.1 Bitcoin
Investor would stand to make a theoretical 0.5 Bitcoin based off leftover exposure to house edge.
After 1B bets update:
Player 'X' bets 100 Bitcoin at a 1% house edge.
Player 'X' stands to theoretically lose 1 Bitcoin based off house edge.
Investor stands to make a theoretical 0.5 Bitcoin after commission. After divestment fees, investor stands to make 0.4 Bitcoin.
App Owner makes 0.4 Bitcoin (commission) and stands to make share of 0.05 Bitcoin from investor profits.
Moneypot makes 0.1 Bitcoin (commission) and stands to make 0.05 Bitcoin from investor profits.
TLDR; Investors performing at a better kelly criterion and are exposed to higher share of house edge which should theoretically equate to more profits in the long term.
I've been catching up on this thread.
I was not made aware there was a 10% divestment fee for investors. Does this mean that whenever I choose to divest I will lose 10% of my total bitcoins?
Oh, after rereading this, it looks like this 10% divestment fee is strictly for profit.
Please clarify. Thanks.