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Showing 20 of 1,183 results by Timetwister
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Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 27/02/2024, 11:31:53 UTC
It's a good start for Bustabit players under the new owner.

Leo, do you plan to change anything, like any marketing campaigns to increase the wagered amount?

I'm surprised so much bankroll stayed, maybe Leo himself was a big investor.
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Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 22/02/2024, 16:14:51 UTC
I did not look at the data, I am going by your figures and was surprised at the 1.5 BTC you mentioned. If you are right, he was making over 500 BTC per year and that is simply unbelievable. Well done to Daniel of course if those are a fair reflection of BTC he is making. I had no idea the profitability for the owner would have been that much.

Really?

Devans is making something like 1.5 BTC A DAY as of now.

You can estimate it from the casino's data: https://stats.bustabit.com/v2/bankroll_stats.csv

Now it's less as there have been some divestments, 1.5 BTC was at around 87% fee.

I wonder how much bankroll will be left, I'm debating whether to leave anything.

I just checked again and it's still at around 1.5 BTC a day. Really impressive, it's sad that he decided to sell this business.
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Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 22/02/2024, 15:54:24 UTC
I wonder how much bankroll will be left, I'm debating whether to leave anything.
You are speculating that after the change of hands, the previous investors might pull out? There are drops in the bankroll happening already but I see the bright side of this, individual investors stake increases and their possibility of higher wins increase proportionately as the other investors cash out. Hence I am sticking with my same plan and not touching my investment at all.

Just want to point out that I made 4% gains from my 2months investment on Moneypot - had to cash out after their declared their shut down and Leo moving to BAB and BAD now. I have faith in Leo along with Daniel and Ryan, so I am at ease.

Sure, that's the good thing about staying, but I don't know Leo at all.
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Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 22/02/2024, 15:26:23 UTC
Really?

Devans is making something like 1.5 BTC A DAY as of now.

You can estimate it from the casino's data: https://stats.bustabit.com/v2/bankroll_stats.csv

Now it's less as there have been some divestments, 1.5 BTC was at around 87% fee.

I wonder how much bankroll will be left, I'm debating whether to leave anything.
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 21/02/2024, 19:38:54 UTC
While it's true that the business is extraordinarily profitable, the financial aspect is secondary to me at this point. For me the sale is primarily about the responsibility that comes with owning bustabit and bustadice and the time commitment they require.

I could certainly save some time by hiring more staff, but some tasks cannot be delegated. For instance, I don't believe it's possible to reasonably give someone else full access to the database or game servers given how easy it would be for them to cheat bankroll investors without anyone ever knowing. So at a minimum I would continue to always be on call 24/7, involved in every server upgrade etc. That's not to mention that (IMHO) bustabit's success is at least in part due to me, its owner, being so accessible to players. I'm convinced bustabit would lose some of its appeal if it stopped being a "mom and pop" casino.

But even if somehow I could delegate everything and not have to spend any of my time at all, as the owner I would ultimately still consider myself responsible for players' and bankroll investors' money. That's not a burden I want to bear indefinitely. Of course I could have simply shut the casinos down, but that serves neither players, nor bankroll investors, nor myself well. Handing the reigns to Leo is the best thing I could do.

Some skepticism is natural, of course, but I remember that when I launched bustadice and later acquired bustabit I was virtually unknown and many people felt similarly about me. I like to think that I ended up doing alright and proving their concerns to be unfounded.

That's what I imagined, you have enough money and don't want to keep running it, so you sell it. I guess the valuation was quite low as profits are expected to drop, at least short term.

I don't have anything against Leo, I just don't know him, I was fine letting my investment grow over time because you run this very well, but I think I'll divest most of what I still have on the casino. How big was the bankroll in USD when you bought Bustabit?
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Board Gambling
Merits 1 from 1 user
Re: bustabit – The original crash game
by
Timetwister
on 21/02/2024, 12:36:40 UTC
⭐ Merited by devans (1)
I don't get this sale. The business is valued based on returns, but returns will be much lower without Devans. Why would investors trust someone they don't know? Less bankroll will mean less money being wagered.

Devans is making something like 1.5 BTC A DAY as of now. He must be worth a lot by now, and probably has "enough", but I don't understand how this is better than delegating his Bustabit work and making that insane profit.
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Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 20/02/2024, 21:06:56 UTC
It would have been nice to at least announce this with more advance, instead of 25 BTC under the profit record...
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 20/02/2024, 21:00:10 UTC
Very sad news, I guess Daniel got a great offer, as this is a very profitable business under the current commission structure.
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 07/02/2024, 20:57:02 UTC
I guess most of the bankroll is from Daniel, as the commission is so high now.
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Topic
Board Gambling
Re: ▄■▀■▄ 🌟BITVEST.io🌟 💰WIN BY 🔶PLAY 📈INVEST➡🔺🎲🎰🔲 | BET CONTEST ▄■▀■▄
by
Timetwister
on 04/02/2024, 17:33:19 UTC
Signature campaign spammers war.
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 21/01/2024, 20:33:51 UTC
I'm surprised people are investing at an 85% commission rate, the expected yield now is very low.
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 10/06/2023, 11:36:26 UTC
The signature campaign spammers are back...
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 06/06/2023, 17:08:25 UTC
<...>
When there is full peace here, they come around, don't they?  Grin
Some are sore losers, others are scammers looking to squeeze out a penny or two by making baseless accusations without even any single required proof. Maybe they think members around here will be fooled by their antics. Time wasters.

And some may be competitors spreading bullshit.
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 04/06/2023, 22:00:11 UTC
Hopefully, you get banned for spreading that bullshit. Bustabit is more reputable than most DEFI projects.
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 21/04/2022, 09:15:52 UTC
That depends on why I'm not able to operate them anymore, but I assume you're thinking about a bus-type situation. I've taken precautions to ensure that even in the worst case at a minimum bustabit can be wound down cleanly. I can't promise that bustabit and bustadice continue operating without me, but everyone including bankroll investors would be able to safely withdraw.

Is there some emergency auto withdrawal mechanism?
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 20/04/2022, 21:04:03 UTC
Devans, what would happen to these websites if you weren't able to operate them anymore?
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 17/03/2022, 17:01:14 UTC
Commission rate:   98.7%

lol
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 24/02/2022, 11:36:52 UTC
Exactly. I guess the formula to calculate fees is the same. btcxdr_360d_average*current BTC/55000000

For bustadice the factor is 80,000,000 instead of 55,000,000, but apart from that it is the same.

What would happen to these websites if you weren't able to operate them anymore?
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 21/02/2022, 21:57:57 UTC
Where can I see Bustadice's daily wagered history? Something like https://www.bustabit.com/bankroll_stats.csv for Bustadice.

You mean: https://bustadice.com/bankroll_stats.csv ?

@Daniel on a side note, it'd be kinda nice to have a .html version (e.g. a formatted table) of those stats, right now the .csv is hard to read unless you import it into a spreadsheet

Exactly. I guess the formula to calculate fees is the same. btcxdr_360d_average*current BTC/55000000
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Topic
Board Gambling
Re: bustabit – The original crash game
by
Timetwister
on 21/02/2022, 21:40:00 UTC
Estimating the bankroll's rate of return is difficult because of how many variables there are, but I'll give it a shot:

In 2021, bustabit saw 27,398,415 XDR in gross gaming revenue and the bankroll's current size is 39,339,068 XDR. Let's assume that the gross gaming revenue will be the same going forwards and let's also assume that the commission rate will stay the same at its current 80.9%. Further assuming there are no investments or divestments, that represents an estimated return of 5,233,097 XDR or 13.3% for bustabit's bankroll in 2022.

In reality, players won't win/lose exactly the same amount they did in the past, the commission rate will continue to change with the size of the bankroll and Bitcoin's price and investors will add to and remove from the bankroll. These things are difficult to model, though, and require more assumptions of their own.

For bustadice it's even more difficult because its revenue is less consistent and the bankroll is still recovering from a loss in early 2021. Using the same methodology as above I arrive at an estimated rate of return of only 0.3% per year. In reality, its average annual revenue is larger than it was in 2021 and the bankroll will probably decrease in size once it reaches its all-time high profit again and it starts paying the commission again.

Where can I see Bustadice's daily wagered history? Something like https://www.bustabit.com/bankroll_stats.csv for Bustadice.