Quote from: ethan_nx on March 12, 2021, 10:06:41 AM

I know my opinion will not be very popular (or at least controversial), but honestly after 4 years of being on "the other side" of the gambling site, I will probably never again deposit any coins to a 3rd party site a for long-term investment. We worked hard to take proper care of the deposited coins and (thankfully!!!) nothing bad happened, but there are always some risks involved. If a site gets hacked (which does happen), what's the site policy? Will the owners cover the loss with their own funds? There is always a non-zero probability that things will go wrong and investors lose their coins.

If you compare the expected ROI due to coins/USD changes, possibly boosted by staking using a trustless protocol like Cardano or Polkadot (extra 10% a year) to the expected revenue from a gambling site, and then take into account a non-zero probability of actually losing your coins, I don't see much point in trusting coins to another site. Unless you do it for the pure fun, or you have other reasons to do so. Even when diversifying your portfolio it looks much safer today to simply invest in a bunch of coins, stake them and always have your private keys to spend them.

I don't want to undermine online gambling. I think it's really fun, both being an investor or player. There is a bit of adrenaline in both and it's hard to find a replacement for that. Watching Coinmarketcap or Kraken charts is not a substitute for a cool community chat, watching someone win or lose in a big way, or even being a part of the project that just give you this comfy feeling that you belong there.

It's all very important and that's what I really liked in YOLOdice. The community, the the fun, the chat, the adrenaline... But even though, I think investing in gambling site might not be the greatest idea in terms of expected ROI.

Cheers,
Ethan

I have been an investor in 3 sites, 2 now closed down so only left at 1, and I have always been open about it,,, you can and maybe very possibly will lose it if the site gets hacked but I have been very lucky/fortunate or whatever you want to call it that I chose people who ran the business well, including Yolodice of course, that the unwanted never happened.

I think gambling investments can be very profitable. I lost some and won some, but over since 2017 I actually more than 4x my investment in DOGE and 2x in LTC, so with the markets going ATH it was very very good returns. But as ethan says,,, there must be a safer way, perhaps to use the DEFI stuff as mentioned earlier by someone else and use non-custody contributions to bankroll but keeping the dice elements and centralized structure of chat, moderating, contests etc.

The recipe was popular, and many defi gaming shows that no-trust systems can work. But they cannot get as much loyalty as centralized sites.