Re: Just-Dice.com : Invest in 1% House Edge Dice Game

Quote from: gaba on June 26, 2013, 08:13:23 PM

Quote from: 01BTC10 on June 26, 2013, 06:25:55 PM

Maybe learn some math.

Hint:
Standard deviation: http://en.wikipedia.org/wiki/Standard_deviation
Variance: https://en.wikipedia.org/wiki/Variance
Expected value: http://en.wikipedia.org/wiki/Expected_value

Right now players won a little bit over expected value, site is unlucky but luck don't exist over a large sample.

Percentage change = (V2 - V1) / V1 × 100%
http://www.miniwebtool.com/percentage-change-calculator/?num1=3.35&num2=3.29

Percentage change: 1.791% decrease

I was referencing to this quote:

Quote

I choose to invest not to gamble, but obviously I was wrong. Investors stay away from these site.

It's not a gamble if you understand variance and standard deviation. It's a gamble only if you invest for a short period of time.

Right now:

11 138BTC wagered at 1% edge.
11 138BTC(0.01) = 111.38BTC
Site is up: 104BTC

So almost right on expected value.