Quote from: finnile on September 29, 2014, 07:04:02 PM

Quote from: noma on September 29, 2014, 06:26:28 PM

Quote from: finnile on September 29, 2014, 10:37:24 AM

Apparently PRC made a change in the commission system and claims to have emailed the investors last week. Do you not think Dean a post on this would be wise here?

How does the new system different from previous one?

Haven't done the complete maths, but it seems it is actually bad for the investors. Basically, site used to earn only when players(gamblers) lost before, now site makes profit for the amount wagered irrespective of it being a win or a lose. (Read the last paragraph for most of the maths - If I understand it correctly).
ruru said something about it being different, not sure what he meant. But like someone pointed out in the chart it is not always good for the investors.
So the old system gave the investors a 1% edge , but it works out only over a long term. The new system is to maximize the Dean's(not investors) profits over the short term .
For example someone pointed out that according to the site's charts, around 5000 btc was wagered today , so even if the site had lost money, Dean would still have made 0.1% of that 5000 btc which is 5 BTC. So basically Dean now makes profits to run the site irrespective of the site winning or losing.

The argument ruru posted was something that all of the dice sites are much below the expected 1% edge(profit), and some are negative, so the only one's making big profits with this 0.1% of the wagered would be the site owners, which might not seem right to the investors and even might it seems to be the same, the investor's only get that 1% edge over the long term.

I am not sure how the change was implemented. Did Dean change the system after voting or by simply informing the investors?
Because as an investor, I would have definitely been against the change. Because, right now I would be paying Dean 0.1% irrespective of a win or a loss for the gambler. Meaning, if the site was in a loss or below the expected, then I am actually losing more , than what I would have if I just paid commission on profits for me.
So even though Dean claims its equivalent, it is only in the case if the site comes close to profits of 1% of wagered. Otherwise, its rather a loss to the investors. But it seems investors don't understand this.

And one more thing.
That guy Bazza is Smart.

There's been just over 1k wagered since the new system came into place.

Road2Wealth just lost 150BTC while only wagering 5-600. Under the old system PRC (not me) would take 15BTC in commission with investors getting 135BTC.

Under the new system PRC took 0.5-0.6BTC while investors got 149.5BTC.