Quote from: devans on February 07, 2018, 02:42:35 PM

Hey everyone,

Some people might already know me from bustadice, which launched last October. A little over a week ago I also acquired bustabit from Ryan and will be running it going forwards. Due to the change in ownership it was necessary to generate a new hash chain and hold bustabit's second provably fair seed event, which you can find here.

I also took the opportunity to release version 2 of bustabit, a complete rewrite that is more scalable and brings a number of new features and improvements.

Removal of the bonus system
Both instant busts at 0.00x and the bonus have been removed and the house edge is now a flat 1 % (read below). Although the bonus was one of bustabit's most interesting features and I am sad to see it go, our experience has shown that most players didn't consider the bonus an important part of the game. Consequently only a handful of players benefited from the bonus at the expense of all other players that ignored it.

Despite the house edge being increased in v2, the majority of players are likely better off in terms of expected value thanks to the removal of the bonus system.

Investment system
bustabit is no longer privately bankrolled. Instead, anyone can invest in the bankroll to participate in the casino's profits (and losses). To fund further development, marketing and to turn a profit, we charge a 0.25 % commission on all wagers. To ensure that investors' profits remain predictable, the house edge is now a flat 1 %. Therefore, investors can expect to receive 75 % of the house's profits.

Just like in bustadice, the majority of funds are held in a multisignature cold wallet by myself, Ryan and a trusted third party. Investors may also choose to remain in control of some of their investment by making use of our offsite investment system, reducing their counterparty risk and increasing their liquidity.

New investors are charged a fee of 2 %, which is shared among existing investors. This compensates them for being diluted and encourages long-term investments into a stable bankroll.

Higher bet limits
To protect investors, the most a single player can win in one game is 0.75 % of the bankroll, in line with the Kelly criterion. If a player were to win more than that, he will be forced to cash out. In addition, if all players in a game combined would win more than 1.125 % of the bankroll, they are also forced to cash out. The bet limit has been raised from 1 BTC to be the same as the maximum per-player profit, allowing for significantly larger bets than previously.

As a result, high rollers can make larger bets and overall players will be forced to cash out less often.

Deposit precredits
Don't want to wait for your deposit to be confirmed? Precredit it for a small fee and start playing immediately!

Not all deposits are eligible to be precredited and your precredited balance cannot be withdrawn, tipped or invested until your deposit confirms.

Highly optimized withdrawal system
bustabit v2 makes full use Segwit for all of its addresses. In addition, withdrawals are processed using a sophisticated custom-built coin selection algorithm which provides fantastic privacy properties.

Since it also significantly lowers our transaction costs, we are able to pass those savings on to our players. Players that would like to save even more on fees have the option of choosing a non-immediate withdrawal, which is batched with others and even cheaper.

We are confident that no other service can currently provide cheaper Bitcoin withdrawals at cost.

Friend system
You can now add other players to your friend list to see when they are online. Friends are specially highlighted, making them easy to recognize in chat and in the game's player list.

If you want to discuss something in private, you can now do so using direct messages. To prevent spam, both players must add each other before they are able to send and receive each other's private messages.

Script editor
Scripts authors can automatically generate UI for configuration, allowing scripts to be shared and used more comfortable, especially by non-technical players.

We've also sandboxed the script editor, preventing malicious scripts from accessing the rest of the browser.

bustabit has always been one of my favorite. Are there many people who have joined the investment program? It seems alot more steadier now without the bonus program