Post
Topic
Board Gambling
Re: bustadice – Next Generation Dice
by
JollyGood
on 15/11/2020, 17:03:34 UTC
With the greatest respect devans, which safety mechanisms are in place to ensure those 11,000+ Bitcoin investors will have access to both their profits and their investment in the unfortunate event somethign were to happen to you (incapacitated or death)?

I mean 11,000 BTC x $16,000 per Bitcoin = $ a lot of USD


TL;DR: On December 15, all remaining offsite investments will be removed and the commission rate will become dynamic based on the bankroll's size. This is currently beneficial for investors as it will lower the commission rate, but will disincentivize the bankroll becoming larger in the future. Players are not affected.



When I increased the bankroll commission to 50% of the expected profits in September 2019 I had hoped to reduce the size of the bankroll and therefore the total amount of investors' money bustabit and bustadice are responsible for. However, one year later the combined bankrolls still total more than 11,000 BTC. To more actively manage the size of the bankrolls I will be making two changes effective December 15:

First, offsite investing will be retired completely. This will immediately reduce the size of the bankrolls by more than 4,000 BTC and is also in the interest of fairness towards the majority of investors who did not have the opportunity to invest offsite. All remaining offsite investments will be eliminated and affected investors will receive an equivalent amount of dilution fee credits.

Second, bustabit and bustadice will both move to a dynamic commission model where the commission changes in real-time based on the size of the bankroll:

commission rate = bankroll / 10,000 BTC

On bustabit this means that the commission rate will be roughly the same as now or slightly lower. On bustadice these changes slash the commission by more than half, down to ~20%.