Quote from: mechs on September 23, 2013, 02:07:36 AM

Quote from: cdnbcguy on September 23, 2013, 01:28:32 AM

Quote from: superbit on September 23, 2013, 01:14:03 AM

Change the house odds to 1.5%, none of the betters will leave and still better then SD.

There's no need to make it harder for the 0.0003 BTC type bettor - it's the 75 BTC bettor like Choad I just saw...

We should just enforce a max profit and a max bet.

The variance on a Bernoulli distribution with a win prob of 0.5 (close enough) is 0.25 / the number of bets.

We want the variance to be small, therefore a lot of 0.0004 type bets. We take little nip out of each one.

It's not the edge its the variance and with a lower edge you must have a low variance and that means lots of little bets and not a few big ones.

I really hope Doog reads this. It's math, there's no room for argument. We need a max bet and a max profit - I recommend 1 / 1,000 capital - that still allows a 36 BTC bet right now - thats 4 grand.

I don't think Doog will change anything.

He had better or sharps will continue to butt rape JD and it will continue to lose money and investors will start to flee like rats from a sinking ship.

It's about the variance, Doog!