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Author Topic: [ANN] NeoDICE - asset 18184274154437352348 issuer NXT-XRK4-5HYK-5965-9FH4Z  (Read 35391 times)

TwinWinNerD

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Dice Income depends on a few factors:

- House Edge
- Amount wagered
- Luck (Variance)
- cost

The houseedge times amount wagered gives the expected value. The revenue from the gamling will be normally distributed around the expected value and will tend to this % in the long run.

From this revenue the cost of running the gambling business will be deducted. This includes developement, mainainance, servercost and most importantnly the cost for providing the bankroll of the site. I don't yet know how this part is handeled, so it could be that the NXT needed for this are provided for free by supernet or else.

Just-Dice maintains its bankroll from public investments. Since the neoDice shares are not being initially sold on the open market to raise capital, I would guess the house bankroll would be provided either by SuperNET or NXTVenture.

Possibly. But I can't imagine such an entity providing the funds for free, so they will charge a monthly fee (or something else).
I would imagine the working capital needed for this can be obtained via some asset sales. As the volumes go up, the price of the asset should go up, so I dont think there is a big issue here

The working capital needed for this is quite huge if you want to implement bankroll optimization rules. I am mainly referring to the kelly criterion.

Lets imagine you really do offer the 99000x payout option. Now if you want to offer a payout higher than 99000 NXT, lets say 500,000 or 1,000,000 max win, you will need to have a bankroll in the size of:
500,000/Houseedge --> 2% = 25,000,000 NXT , 1% = 50,000,000 NXT
1,000,000/Houseedge --> 2% = 50,000,000 NXT, 1% = 100,000,000 NXT

PS: 1,000,000/99000 = only a betsize of mearly 10 NXT!
are there any stats on the amount of bets at the various odds levels?
100000x odds seems quite extreme
what if only 100x are allowed?

100000x was the maximum allowed odds on just-dice.com (the most successful dice site in terms of number of bets).

I remeber that dooglus posted an analysis back when it was still running. The highest payouts were quite famous iirc!

I think the reason for this is the same reason people play the lottery. They like the longshots. They like to imagine what it would feel like to win the "jackpot" even if it is extremely unlikely!

100000k is pretty steep but maybe 10000x could be offered?

jl777

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Dice Income depends on a few factors:

- House Edge
- Amount wagered
- Luck (Variance)
- cost

The houseedge times amount wagered gives the expected value. The revenue from the gamling will be normally distributed around the expected value and will tend to this % in the long run.

From this revenue the cost of running the gambling business will be deducted. This includes developement, mainainance, servercost and most importantnly the cost for providing the bankroll of the site. I don't yet know how this part is handeled, so it could be that the NXT needed for this are provided for free by supernet or else.

Just-Dice maintains its bankroll from public investments. Since the neoDice shares are not being initially sold on the open market to raise capital, I would guess the house bankroll would be provided either by SuperNET or NXTVenture.

Possibly. But I can't imagine such an entity providing the funds for free, so they will charge a monthly fee (or something else).
I would imagine the working capital needed for this can be obtained via some asset sales. As the volumes go up, the price of the asset should go up, so I dont think there is a big issue here

The working capital needed for this is quite huge if you want to implement bankroll optimization rules. I am mainly referring to the kelly criterion.

Lets imagine you really do offer the 99000x payout option. Now if you want to offer a payout higher than 99000 NXT, lets say 500,000 or 1,000,000 max win, you will need to have a bankroll in the size of:
500,000/Houseedge --> 2% = 25,000,000 NXT , 1% = 50,000,000 NXT
1,000,000/Houseedge --> 2% = 50,000,000 NXT, 1% = 100,000,000 NXT

PS: 1,000,000/99000 = only a betsize of mearly 10 NXT!
are there any stats on the amount of bets at the various odds levels?
100000x odds seems quite extreme
what if only 100x are allowed?

100000x was the maximum allowed odds on just-dice.com (the most successful dice site in terms of number of bets).

I remeber that dooglus posted an analysis back when it was still running. The highest payouts were quite famous iirc!

I think the reason for this is the same reason people play the lottery. They like the longshots. They like to imagine what it would feel like to win the "jackpot" even if it is extremely unlikely!

100000k is pretty steep but maybe 10000x could be offered?
I would advise against any lottery odds at first, unless the amount was capped. It is quite unlikely, but I do not want an extremely unlikely event to wipe out the bankroll.

So, we should start with 100x and then gradually increase the top odds and max amounts as the bankroll grows
some actual stats on what odds got the 90% of bets would be extremely helpful, I doubt it was 100000x

James
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

BTCDDev

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Dice Income depends on a few factors:

- House Edge
- Amount wagered
- Luck (Variance)
- cost

The houseedge times amount wagered gives the expected value. The revenue from the gamling will be normally distributed around the expected value and will tend to this % in the long run.

From this revenue the cost of running the gambling business will be deducted. This includes developement, mainainance, servercost and most importantnly the cost for providing the bankroll of the site. I don't yet know how this part is handeled, so it could be that the NXT needed for this are provided for free by supernet or else.

Just-Dice maintains its bankroll from public investments. Since the neoDice shares are not being initially sold on the open market to raise capital, I would guess the house bankroll would be provided either by SuperNET or NXTVenture.

Possibly. But I can't imagine such an entity providing the funds for free, so they will charge a monthly fee (or something else).
I would imagine the working capital needed for this can be obtained via some asset sales. As the volumes go up, the price of the asset should go up, so I dont think there is a big issue here

The working capital needed for this is quite huge if you want to implement bankroll optimization rules. I am mainly referring to the kelly criterion.

Lets imagine you really do offer the 99000x payout option. Now if you want to offer a payout higher than 99000 NXT, lets say 500,000 or 1,000,000 max win, you will need to have a bankroll in the size of:
500,000/Houseedge --> 2% = 25,000,000 NXT , 1% = 50,000,000 NXT
1,000,000/Houseedge --> 2% = 50,000,000 NXT, 1% = 100,000,000 NXT

PS: 1,000,000/99000 = only a betsize of mearly 10 NXT!
are there any stats on the amount of bets at the various odds levels?
100000x odds seems quite extreme
what if only 100x are allowed?

100000x was the maximum allowed odds on just-dice.com (the most successful dice site in terms of number of bets).

I remeber that dooglus posted an analysis back when it was still running. The highest payouts were quite famous iirc!

I think the reason for this is the same reason people play the lottery. They like the longshots. They like to imagine what it would feel like to win the "jackpot" even if it is extremely unlikely!

100000k is pretty steep but maybe 10000x could be offered?
I would advise against any lottery odds at first, unless the amount was capped. It is quite unlikely, but I do not want an extremely unlikely event to wipe out the bankroll.

So, we should start with 100x and then gradually increase the top odds and max amounts as the bankroll grows
some actual stats on what odds got the 90% of bets would be extremely helpful, I doubt it was 100000x

James

As someone who has owned a (failed) dice site, I second this. One guy comes a long at the beginning and does what you thought was impossible, and then you're screwed.

TwinWinNerD

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Oh you guys... :D

You really are in the need of a consultor.

Those high odds don't mean you will lose much of the bankroll if it hits, the maximum winnings will always be the same, when the Kelly criterion bankroll is used.


TwinWinNerD

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I could research what the actual odds distribution was, but that would take some good amount of time.

BTCDDev

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If we are looking for more games to implement, the dice game 骰子 (shaizi) is extremely popular across China and would most certainly bring in a large Chinese audience.

It's literally played in every bar across China every week  :)

The best part is, players would bet against each other and the house can take a fee so neoDice doesn't have to front any money.

jl777

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Oh you guys... :D

You really are in the need of a consultor.

Those high odds don't mean you will lose much of the bankroll if it hits, the maximum winnings will always be the same, when the Kelly criterion bankroll is used.
who is this Kelly?
Is she cute?

it sounds like it is the bet limiting I suggested?
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

jl777

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If we are looking for more games to implement, the dice game 骰子 (shaizi) is extremely popular across China and would most certainly bring in a large Chinese audience.

It's literally played in every bar across China every week  :)

The best part is, players would bet against each other and the house can take a fee so neoDice doesn't have to front any money.
the plan is to issue a different asset to encapsulate each different game. This way investors can bet on which game is going to make the most money.
with (hopefully) a dozen+ gaming assets, Privatebet will be the safe bet as it will be the one doing joint ventures with the devs making the game

Just need to get a provably fair random number generator in the SuperNET API

James
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

TwinWinNerD

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Oh you guys... :D

You really are in the need of a consultor.

Those high odds don't mean you will lose much of the bankroll if it hits, the maximum winnings will always be the same, when the Kelly criterion bankroll is used.
who is this Kelly?
Is she cute?

it sounds like it is the bet limiting I suggested?

Kelly is a beautiful girl, I am sure!

The kelly criterion determines the optimal maximum win amount for any bankroll/houseedge combination. If the optimal KC is used, then the bankroll will do better than any essentially different strategy in the long run. Thus maximizing the returns for the investors, while limiting the downside potential.

jl777

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Oh you guys... :D

You really are in the need of a consultor.

Those high odds don't mean you will lose much of the bankroll if it hits, the maximum winnings will always be the same, when the Kelly criterion bankroll is used.
who is this Kelly?
Is she cute?

it sounds like it is the bet limiting I suggested?

Kelly is a beautiful girl, I am sure!

The kelly criterion determines the optimal maximum win amount for any bankroll/houseedge combination. If the optimal KC is used, then the bankroll will do better than any essentially different strategy in the long run. Thus maximizing the returns for the investors, while limiting the downside potential.
plz make sure hash gets all the intimate details on Kelly!
as investors we want the best ROI!!
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

starfishi

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Oh you guys... :D

You really are in the need of a consultor.

Those high odds don't mean you will lose much of the bankroll if it hits, the maximum winnings will always be the same, when the Kelly criterion bankroll is used.
who is this Kelly?
Is she cute?

it sounds like it is the bet limiting I suggested?

Kelly is a beautiful girl, I am sure!

The kelly criterion determines the optimal maximum win amount for any bankroll/houseedge combination. If the optimal KC is used, then the bankroll will do better than any essentially different strategy in the long run. Thus maximizing the returns for the investors, while limiting the downside potential.
plz make sure hash gets all the intimate details on Kelly!
as investors we want the best ROI!!

ROFL  :)   I´m going to see my consultor . .


edit:  btw, my consultor says, i shouldn´t read this forum all the time, but . . , i can´t help it   :)






« Last Edit: October 01, 2014, 06:59:48 am by starfishi »

jl777

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[WARNING: DONT LOSE YOUR NEODICE DIVIDEND]

Anytime after 1400 GMT the NeoDICE dividend could be issued. PLEASE convert any TOKEN you have on NXT AE by sending it to NXT-7Y5B-J8LQ-SL5P-3ULFL (alias: RedeemTOKEN). Within 24 hours you will get the official SuperNET asset back. If have not redeemed TOKEN for SuperNET prior to 1400 GMT, your NeoDICE dividend will be forfeited and no complaints about this please.

50000 NeoDICE assets (id 18184274154437352348) will be dividended out to SuperNET asset holders at the rate of 0.06126992957634 NeoDICE per SuperNET asset.

that is 50000/816061

another way to look at this is that for every 16.32 SuperNET assets you have, you will get 1 NeoDICE asset. This is similar to how the NXTventure works, NXTventure will be doing 0.05 NeoDICE per NXTventure, or 1 NeoDICE asset for every 20 NXTventure

James
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

longzai1988

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[WARNING: DONT LOSE YOUR NEODICE DIVIDEND]

Anytime after 1400 GMT the NeoDICE dividend could be issued. PLEASE convert any TOKEN you have on NXT AE by sending it to NXT-7Y5B-J8LQ-SL5P-3ULFL (alias: RedeemTOKEN). Within 24 hours you will get the official SuperNET asset back. If have not redeemed TOKEN for SuperNET prior to 1400 GMT, your NeoDICE dividend will be forfeited and no complaints about this please.

50000 NeoDICE assets (id 18184274154437352348) will be dividended out to SuperNET asset holders at the rate of 0.06126992957634 NeoDICE per SuperNET asset.

that is 50000/816061

another way to look at this is that for every 16.32 SuperNET assets you have, you will get 1 NeoDICE asset. This is similar to how the NXTventure works, NXTventure will be doing 0.05 NeoDICE per NXTventure, or 1 NeoDICE asset for every 20 NXTventure

James

What about SuperNET holders on Bter side?
10533725144527397164 NXT-HSBE-8PWL-CUCD-BHUD6
NXT Multigateway - http://multigateway.com/

starfishi

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[WARNING: DONT LOSE YOUR NEODICE DIVIDEND]

Anytime after 1400 GMT the NeoDICE dividend could be issued. PLEASE convert any TOKEN you have on NXT AE by sending it to NXT-7Y5B-J8LQ-SL5P-3ULFL (alias: RedeemTOKEN). Within 24 hours you will get the official SuperNET asset back. If have not redeemed TOKEN for SuperNET prior to 1400 GMT, your NeoDICE dividend will be forfeited and no complaints about this please.

50000 NeoDICE assets (id 18184274154437352348) will be dividended out to SuperNET asset holders at the rate of 0.06126992957634 NeoDICE per SuperNET asset.

that is 50000/816061

another way to look at this is that for every 16.32 SuperNET assets you have, you will get 1 NeoDICE asset. This is similar to how the NXTventure works, NXTventure will be doing 0.05 NeoDICE per NXTventure, or 1 NeoDICE asset for every 20 NXTventure

James

What about SuperNET holders on Bter side?

automatic. don`t worry.


« Last Edit: October 01, 2014, 09:44:52 am by starfishi »

BTCDDev

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wow someone sold 84 NeoDICE for 6 NXT apiece. Wish I could have been the buyer!

I think the seller will regret it soon.

valarmg

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[WARNING: DONT LOSE YOUR NEODICE DIVIDEND]

Anytime after 1400 GMT the NeoDICE dividend could be issued. PLEASE convert any TOKEN you have on NXT AE by sending it to NXT-7Y5B-J8LQ-SL5P-3ULFL (alias: RedeemTOKEN). Within 24 hours you will get the official SuperNET asset back. If have not redeemed TOKEN for SuperNET prior to 1400 GMT, your NeoDICE dividend will be forfeited and no complaints about this please.

50000 NeoDICE assets (id 18184274154437352348) will be dividended out to SuperNET asset holders at the rate of 0.06126992957634 NeoDICE per SuperNET asset.

that is 50000/816061

another way to look at this is that for every 16.32 SuperNET assets you have, you will get 1 NeoDICE asset. This is similar to how the NXTventure works, NXTventure will be doing 0.05 NeoDICE per NXTventure, or 1 NeoDICE asset for every 20 NXTventure

James

Dividend has been done on the AE side. https://nxtforum.org/general-discussion/supernetwork-ipopoloniex/msg110876/#msg110876
NXT-CSED-4PK5-AR4V-6UB5V

prometheus

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wow someone sold 84 NeoDICE for 6 NXT apiece. Wish I could have been the buyer!

I think the seller will regret it soon.

seems like all Venture dividends are settling at ~50-60 NXT. wish I would have had a bid up too!

nacer

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50 NXt seem to be a lot for a starting project. -> 50 Million NXT market cap hum ....
Scryptmh Mining asset

NXT : NXT-9SYB-C2GF-JA2X-2R4S3

jeff jefferson

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so y are we getting neodice again? not that im complaining about free money :D

prometheus

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so y are we getting neodice again? not that im complaining about free money :D

if you own supernet or NXTventure, you got/will get NEOdice as a dividend
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