NLNico





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Re: DaDice.com - Next Generation Social Gambling Dice Experience May 20, 2015, 10:08:25 AM #1512 Quote from: Da_Dice_Staff on May 20, 2015, 09:36:54 AM Quote from: NLNico on May 20, 2015, 01:54:16 AM Quote from: NLNico on May 19, 2015, 02:53:28 AM Quote from: shitaifan2013 on May 16, 2015, 09:17:44 AM Quote from: dadice on May 15, 2015, 01:10:59 PM Quote from: NLNico on May 15, 2015, 06:23:33 AM So since it took 5 days for an email to reach the developer, I am wondering if the development is outsourced or is DaDice truly 1 team that worked together before? Also since there supposed to be 500+ coins invested, I am wondering if there is already a public cold bitcoin address? Thanks.



We'll surely do so Nico. Currently 97% of the bankroll are our own funds. Once we reach a certain level of at least 10% investors funds a public address will be provided.



EDIT: To answer the first part of your post, our developer is part of the team and we have previously worked together. I know him actually since 5+ years.

We'll surely do so Nico.EDIT: To answer the first part of your post, our developer is part of the team and we have previously worked together. I know him actually since 5+ years.

wait wait wait... that would mean that a single investor or a group of investors would have to risk over 55 BTC with you, before you'd be willing to prove that you're solvent?





wait wait wait... that would mean that a single investor or a group of investors would have to risk over 55with you, before you'd be willing to prove that you're solvent? I noticed BR went from 540 to 632, so seems time to make that public cold wallet anyway. I assume we can expect it today/tomorrow, DaDice?

Agree 100%. I could say a lot about it... butanyway. I assume we can expect it today/tomorrow, DaDice? Quote from: dadice on May 19, 2015, 04:26:41 PM Quote from: AttackDogJerry on May 19, 2015, 01:42:36 PM ....

Look, we don't see any reason why you (or others) should tell us how to run our business. We pay out large withdrawals, as well as smaller ones all day. We have by far the largest advertising and marketing budget of any dice site around. Ask some of our HR in the chat, if they don't receive their withdrawals? Or did anybody complain that we don't process on time and I missed it?



Other dice sites do not publish their cold wallet addresses, so why should we?



We've offered all our investors to have their funds in a dedicated address on request, with a public note to whom the funds belong. Look, we don't see any reason why you (or others) should tell us how to run our business. We pay out large withdrawals, as well as smaller ones all day. We have by far the largest advertising and marketing budget of any dice site around. Ask some of our HR in the chat, if they don't receive their withdrawals? Or did anybody complain that we don't process on time and I missed it?We've offered all our investors to have their funds in a dedicated address on request, with a public note to whom the funds belong.

Lol, wow. Currently the BR is actually supposed to be 924 BTC, so definitely more than your 10% mark.









In the Bitcoin community we never care much about regulation and licenses, including gambling licenses and such. We prefer to self-regulate and have math and tools to prove things.



The greatest example of this is the provably fair mechanism. A tool that allows players to ensure they have not been cheated.



For investors unfortunately this is not possible yet. But we do have 1 little thing to at least prove the solvency of a site, a cold public address. It is extremely easy for site owners to setup. And in history there have been only 1 site who suddenly removed the cold public address, DiceNinja, just days before they run with the whole BR.



So first you tell me you are waiting for that magical 10% requirement. Which is completely idiotic already, but okay. Now you have clearly reached that 10% and you are telling me another excuse?!?



"Other dice sites do not publish their cold wallet addresses, so why should we?"



Hereby a list of the most popular dice sites that accepts investors:



- PRC:

- Just-Dice:

- SatoshiDice: https://blockchain.info/address/1GBEAxb91tea1magDAQoKnjx18oH4ax2T3

- BitDice:

- Diggit:

- Dicenow:

- MoneyPot(DustDice/betterbets):

- SafeDice:





Do you see the pattern.... all dice sites have public cold wallet addresses! (if they accept investors.) So, again, and please DO answer this question: why don't you have a public cold address like all other dice sites?







With both the silly and wrong excuses for posting a public cold wallet address, I do have to say: Be very careful with this site, I would personally not recommend investing or playing here. Every gambling site with investors should have a public cold wallet address, no excuses !







Self-regulation only works if we actively enforce the few standards in the bitcoin gambling community. Provably fair = a standard, any site that doesn't offer that should be left alone. Cold wallet address = a standard for investor sites, any site that doesn't offer that should be left alone. I do not care at all about any of your other business decisions. But WE, as the community, definitely have a say about these FEW "self-regulation standards" that are used by any other site too.



Of course you can just easily make that cold wallet already (should take like 2 hours max?) and no hard feelings.

Lol, wow. Currently the BR is actually supposed to be 924 BTC, so definitely more than your 10% mark.In the Bitcoin community we never care much about regulation and licenses, including gambling licenses and such. We prefer to self-regulate and have math and tools to prove things.The greatest example of this is the provably fair mechanism. A tool that allows players to ensure they have not been cheated.For investors unfortunately this is not possible yet. But we do have 1 little thing to at least prove the solvency of a site, a cold public address. It is extremely easy for site owners to setup. And in history there have been only 1 site who suddenly removed the cold public address, DiceNinja, just days before they run with the whole BR.So first you tell me you are waiting for that magical 10% requirement. Which is completely idiotic already, but okay. Now you have clearly reached that 10% and you are telling me another excuse?!?Hereby a list of the most popular dice sites that accepts investors:- PRC: https://blockchain.info/address/1FhxjhFb1YudGC1vtV4FuLpQc2uHzq3XFd - Just-Dice: http://clamsight.com/address/xJDCLAMZsZg1YqGytiP9CRzYYdsrJXX9Kh - SatoshiDice: https://blockchain.info/address/18e5jpfn9zo9GQov1Ks9Pzh6Yam2SvFqqo - BitDice: https://blockchain.info/address/19yR1HxBNy5As4joecih4wgj8Cpe5SdmWk - Diggit: https://blockchain.info/address/1AqGXXoFRRa27ThqVLfsiPykkp2NC4i7QU (not dice, but has investors)- Dicenow: https://blockchain.info/address/1FY3J5Zuh7mp7q47brqr4wHUsUTeVLT8hb - MoneyPot(DustDice/betterbets): https://blockchain.info/address/1QD1u16PFzsmsqdBWJjx2WjSpHstsDX9ST - SafeDice: https://blockchain.info/address/1SD1ciWyeDNf26YoAUjSsifQZK1ShFJ2s Do you see the pattern.... all dice sites have public cold wallet addresses! (if they accept investors.) So, again, and please DO answer this question: why don't you have a public cold address like all other dice sites?With both the silly and wrong excuses for posting a public cold wallet address, I do have to say:Self-regulation only works if we actively enforce the few standards in the bitcoin gambling community. Provably fair = a standard, any site that doesn't offer that should be left alone. Cold wallet address = a standard for investor sites, any site that doesn't offer that should be left alone. I do not care at all about any of your other business decisions. But WE, as the community, definitely have a say about these FEW "self-regulation standards" that are used by any other site too.Of course you can just easily make that cold wallet already (should take like 2 hours max?) and no hard feelings.



A few answers here may be of interest in resolving the above queries and statements



Let us look at an example: A Bitcoin exchange typically offers an instant withdrawal feature, and might be a steward over hundreds of thousands of Bitcoins. To minimize the possibility that an intruder could steal the entire reserve in a security breach, the operator of the website follows a best practice by keeping the majority of the reserve in cold storage, or in other words, not present on the web server or any other computer. The only amount kept on the server is the amount needed to cover anticipated withdrawals.



Q. Is it possible to run away with coins in cold storage?



A. You generate a wallet on the offline computer the same way that you do on an online computer. This makes sure your Bitcoin private keys are in cold storage. You then make a “watching-only” copy of that wallet to be used imported on the online computer. Using this watching-only wallet, you can generate addresses and monitor payments exactly the same as any other wallet. In order to send money, you will be doing the following:



Create unsigned transaction (online).

Sign it (offline).

Broadcast it (online).





Q. Why other dice sites provide cold storage addresses?



A. Main purpose of cold storage is to ensure protection of coins against hackers, there is NO guarantee of any sort that admin (such as Dean of PocketRocketCasino) won't SCAM you eventually. All the funds in any cold wallet (for instances PocketRocketCasino's one) are as fragile as any ordinary wallet as private key holder can RUN with your coins at any time, there is nothing stopping them from doing so.

Note to the technical sites that should be considered as well.

Let's assume we have only one investor who has invested 100 btc at kelly 10



That's all



So we would have a bankroll of 1000 btc, shown to everyone who would wish to check.

However, the cold wallet would only show 100 btc.

Now, with more and more investors and different kelly selections, the picture is even more bizarre

Like ours:

Bankroll is currently 924

Actually available 546



This means that we still have not reached the 10% originally stipulated



We have another issue as well. Our largest investor in the site does not wish to have this publicly known.



We have the most advanced stats site of any dice site and strive to be as transparent as possible, but we cannot act against the wishes of our members, particularly our largest investor.



As a matter of fact the investor came to our public chat to discuss his concerns and that it was witnessed by many other members. The reason behind the investors statements: Privacy concerns



In addition we have decided to provide each investor who has invested a minimum of 1 BTC their own private cold storage address.

A few answers here may be of interest in resolving the above queries and statementsLet us look at an example: A Bitcoin exchange typically offers an instant withdrawal feature, and might be a steward over hundreds of thousands of Bitcoins. To minimize the possibility that an intruder could steal the entire reserve in a security breach, the operator of the website follows a best practice by keeping the majority of the reserve in cold storage, or in other words, not present on the web server or any other computer. The only amount kept on the server is the amount needed to cover anticipated withdrawals.Q. Is it possible to run away with coins in cold storage?A. You generate a wallet on the offline computer the same way that you do on an online computer. This makes sure your Bitcoin private keys are in cold storage. You then make a “watching-only” copy of that wallet to be used imported on the online computer. Using this watching-only wallet, you can generate addresses and monitor payments exactly the same as any other wallet. In order to send money, you will be doing the following:Create unsigned transaction (online).Sign it (offline).Broadcast it (online).Q. Why other dice sites provide cold storage addresses?A. Main purpose of cold storage is to ensure protection of coins against hackers, there is NO guarantee of any sort that admin (such as Dean of PocketRocketCasino) won't SCAM you eventually. All the funds in any cold wallet (for instances PocketRocketCasino's one) are as fragile as any ordinary wallet as private key holder can RUN with your coins at any time, there is nothing stopping them from doing so.Note to the technical sites that should be considered as well.Let's assume we have only one investor who has invested 100 btc at kelly 10That's allSo we would have a bankroll of 1000 btc, shown to everyone who would wish to check.However, the cold wallet would only show 100 btc.Now, with more and more investors and different kelly selections, the picture is even more bizarreLike ours:Bankroll is currently 924Actually available 546This means that we still have not reached the 10% originally stipulatedWe have another issue as well. Our largest investor in the site does not wish to have this publicly known.We have the most advanced stats site of any dice site and strive to be as transparent as possible,weact against the wishes of our members, particularly our largest investor.As a matter of fact the investor came to our public chat to discuss his concerns and that it was witnessed by many other members. The reason behind the investors statements: Privacy concernsIn addition we have decided to provide each investor who has invested a minimum of 1 BTC their own private cold storage address.

Lol, what a joke.



Of course posting a public cold wallet isn't proof that you will not scam. But at least it shows that you are solvent. It is such an easy thing to do for you (if you have the coins.)



"Bankroll is currently 924 - Actually available 546"



This means you are currently not showing bankroll correctly. Bankroll is how much money there is invested on a site. "Virtual bankroll" is the one based on kelly. The max profit is obviously based on the virtual bankroll. Normal sites (read all those I listed that have kelly) show only "bankroll" and "max profit" since virtual br is not so relevant. You should also show bankroll and show the solvency based on that.



Your "largest investor" excuse is a complete joke. First of all by just putting 90% of the funds in 1 address, you are not necessarily giving out information of this investor. Secondly, since you claim to still own more than 90% of the funds, you can simply move only your own funds to 1 cold address and this "big investor" is not even included(!!)



"In addition we have decided to provide each investor who has invested a minimum of 1 BTC their own private cold storage address." This is completely irrelevant. It is about proving you have all the funds you claim to have. Not that you have 1 BTC.



All you do is giving more bad excuses while I explained to you that it is very normal to prove your solvency by a cold wallet - so normal that EVERY invest site is doing it - except you. I think it is safe to say that DaDice is very likely a scam in the making due to lack of proving solvency. Continuously coming up with new excuses doesn't look good either.



Lol, what a joke.Of course posting a public cold wallet isn't proof that you will not scam. But at least it shows that you are solvent. It is such an easy thing to do for you (if you have the coins.)This means you are currently not showing bankroll correctly. Bankroll is how much money there is invested on a site. "Virtual bankroll" is the one based on kelly. The max profit is obviously based on the virtual bankroll. Normal sites (read all those I listed that have kelly) show only "bankroll" and "max profit" since virtual br is not so relevant. You should also show bankroll and show the solvency based on that.Your "largest investor" excuse is a complete joke. First of all by just putting 90% of the funds in 1 address, you are not necessarily giving out information of this investor. Secondly, since you claim to still own more than 90% of the funds, you can simply move only your own funds to 1 cold address and this "big investor" is not even included(!!)" This is completely irrelevant. It is about proving you have all the funds you claim to have. Not that you have 1 BTC.All you do is giving more bad excuses while I explained to you that it is very normal to prove your solvency by a cold wallet - so normal that. I think it is safe to say that