Quote from: mechs on July 15, 2013, 01:07:20 PM

I do not get this logic. If we keep the best edge (1%), best interface, trustworthy op (Doug paid out 500,000 usd worth of winnings to a single whale), and a max bet which is on par with the competition (just not as crazy high as now) where will the whales go? This is still the best place for them to play and they will do so without ruining the site. If investors leave the site there will be none.

We should make the max profit 0.1% per bet as opposed to 1% of the bankroll. That would still be 25BTC each. We could always raise it again later on.
Mechs

I don't understand why the max bet should go down. I see some are surprised of the amount of loss that can be made in a short time. Indeed the site lost in a few days roughly 4,000 btc on an invested capital of around 25,000 btc, that's a loss of -16%. But if it can go down so much so quick, it can also go up so much so quick, which indeed happened right before when the site was up 2000 btc or +6% in only a few days too. As long as you have the 1% house advantage all is well I would think as you have statistical certainty that you will make up the loss as long as people continue to play.

However is it not the case that lowering the maximum bet makes the site less attractive for whales? If yes, you risk indeed not making up the loss if the whales choose other destinations!

I am stunned that just-dice succeeded in having MORE turnover than Satoshi Dice already after 1 month. BTC turnover being the most important factor for the bottom line that is an amazing accomplishment. Obviously just-dice is offering value. Is it offering too much value and asking too little in return resulting in a loss? I think that is too early to judge as a monthly loss of say -5% can still be made up easily the next month with say +15%, resulting in an average of +5% per month, as was 'promised' in the brochure Wink

Until then I agree with you that it would be a mistake to make the site less competitive.