By what metric do you consider primedice to be the largest gambling site?
Why do you think sites like Satoshidice and Justdice lost favor?
Why is the crux of bitcoin gambling still silly "dice games"? I'm still waiting for a decent bitcoin poker room.
1) Number of deposits/withdrawals we receive (Can be compared to other sites on http://www.walletexplorer.com)By what metric do you consider primedice to be the largest gambling site?
Satoshidice didn't keep up with competition as far as innovation goes.. Dicing changed after we entered the market and they stuck to the simple blockchain based version of the game. I think this is mainly due to Erik Voorhees selling the website.Why do you think sites like Satoshidice and Justdice lost favor?
There are options for typical gambling such as slots, table games etc. but the Bitcoin community seems to favour dice. I'm not sure why exactly, but I'd personally choose dice too if I was going to gamble - The house edge is the lowest, it's simple, it offers an extremely large range of odds and has the strongest implication of provable fairness out of any other games.Why is the crux of bitcoin gambling still silly "dice games"? I'm still waiting for a decent bitcoin poker room.
We have a massive project in the pipeline at the moment which we're going to be releasing fairly soon. It pretty much covers all aspects of gambling. I can't really discuss much about this though.Hi Edward,
Do your engineers have Poker in the pipeline?
Based on the growing bridges from Fiat to Bitcoin, I believe this is a billion dollar opportunity.
If you're seriously exploring this opportunity, I can join your team to setup a decent poker arena within a year.
Testing, securing and launching for real Bitcoins within two years. Budget to achieve this $ 300,000.00 USD
Goodluck with your business. Keep it fair and clean.
Cheers,
@Coinmarketswot
Hey!Hi Edward,
This may be a bit private but what does Primedice do with its earnings? Do you leave it all there in case someone wins big, or do you invest it in other projects and personal spending? Do you convert it to fiat? Do you and Stunna consider yourselves rich?
-CaptainXD
We don't publicly list shares of Primedice, no. By shareholders I mean the founding staff.Thanks! When you say shareholders, do you mean founders/staff exclusively? Or is there a way where ordinary people can purchase small amounts of stake in the company?
1) what do you think/expect to be the biggest threat for bitcoin or Primedice which might put you or your casino into problem's.
2) your views on "International legal issues with gambling " or consequences you have faced in this long run.
3) Peimedice opinions on XT (also give a single word answer for what you think XT is) .
Legal pressure definitely. Whilst we currently have everything under control it's only a matter of time before things start tightening up. This may cause issues.1) what do you think/expect to be the biggest threat for bitcoin or Primedice which might put you or your casino into problem's.
Currently everything is fairly grey. I'm not able to get into specifics, but we've recently had to block US & Australian clients due to the changing legal landscape. We constantly are trying to ensure we keep up with changing legislation and ensure we're not breaking any laws.2) your views on "International legal issues with gambling " or consequences you have faced in this long run.
The team at Primedice are actually a little tied up on this one. A few of us go either way.3) Peimedice opinions on XT (also give a single word answer for what you think XT is) .
https://bitcointalk.org/index.php?topic ... 1#msg34211Actually there is a very good reason for Bitcoin-backed banks to exist, issuing their own digital cash currency, redeemable for bitcoins. Bitcoin itself cannot scale to have every single financial transaction in the world be broadcast to everyone and included in the block chain. There needs to be a secondary level of payment systems which is lighter weight and more efficient. Likewise, the time needed for Bitcoin transactions to finalize will be impractical for medium to large value purchases.
Bitcoin backed banks will solve these problems. They can work like banks did before nationalization of currency. Different banks can have different policies, some more aggressive, some more conservative. Some would be fractional reserve while others may be 100% Bitcoin backed. Interest rates may vary. Cash from some banks may trade at a discount to that from others.
George Selgin has worked out the theory of competitive free banking in detail, and he argues that such a system would be stable, inflation resistant and self-regulating.
I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash. Most Bitcoin transactions will occur between banks, to settle net transfers. Bitcoin transactions by private individuals will be as rare as... well, as Bitcoin based purchases are today.
I don't really keep up with alternative currencies, but I don't think any of them are going to hinder Bitcoin.Which digital currency (litecoin,dogecoin, peercoin etc) do you think will be the biggest competitor to bitcoin in 5 years
Thanks for running such a great service, Ed and I extensively use your website to track competition.Hi,
First of all thanks for running a great gambling site. I agree using bitcoin for gambling simply makes sense. And, as DiceSites.com owner, I can attest that you guys have been the biggest bitcoin gambling site for a long while now I got 3 questions:
We've had zero success targeting China. We released a localized version of PD2 and it did not take off at all. We haven't been able to figure out how people in China are gambling bitcoin or if they are at all. A lot of the Chinese based services I've watched never managed to reach much popularity.1. In my impression most bitcoin communities (reddit, bitcointalk, bitcoin.com, etc) are worldwide. However, Russia and China seem to be more independent and have their own communities in their own language. Once Stunna said 53.56% of the visitors were Russian, so that's great. So I am wondering about China.. It's common to say "Bitcoin is big in China" and "Chinese people love to gamble". Do you guys try to target them too? If so, did you have any success with that? If not, any plans/thoughts about that?
The truth is chucking together a working bitcoin gambling site especially with all the leaked code out there is super easy. The real issue comes with being there to deal with the constant issues that arise and building a secure enough system that can ensure that you actually manage to turn a profit. Even when everything is working as it should you still can end up losing, when we launched PD1 we lost every bitcoin we owned to whales.2. Some people seem to think it's easy to start and operate a bitcoin gambling website, but obviously it can be difficult. What things do you think people mostly underestimate at starting and operating a site like that? Eg: what are some of the challenges you guys had in the last 2+ years? (I can guess 1 huge issue/setback, but still interested to hear more.)
Much like how we see marijuana legalization beginning to spread throughout the USA, I feel the next wave will be gambling but not for 5-10 years. NY state actually just banned Fanduel/Draftkings from accepting deposits today. As cryptocurrency gets bigger the USA is going to realize that people will still be playing but on less reputable websites that are willing to accept US residents and the money will continue to flow out of the US.3. As you said, you had to block PD for US and Australia. How does it make you personally feel that for the land of the free, the USA, you cannot provide a game? Do you think these laws/regulation will ever change in a more open/modern way?
It's a lot more impressive than Primedice or any online gambling offering I've seen, I'm extremely excited for it. It isn't coming out in the near future though.Thanks. That's all for now. Also, looking forward for that new project/game
That's correct: https://primedice.com/verifyAs I understand it, primedice is cryptographically provably fair. Is that right?
If so, how long till you do a game like Poker?
http://wizardofodds.com/gambling/house-edge/ This is a decent overview, however it assumes "perfect play" as in you are making the highest EV decision at every move. The edges can actually be a lot higher if you aren't playing the optimal strategies which is often challenging to do especially as the casino floods you with free booze and the distractions that come with being in that environment.Have you ever thought of displaying a warning or do you, to players that have lost considerable amounts?
If I go to an in person casino which games have if any a 1% edge? Roulette?
I don't consider it to be a moral issue, I view it purely as entertainment and enjoy responsible gambling myself. I definitely hit a point where I thought PD was a net negative for the community but then I watched site after site scam users out of countless thousands of coins. PD is a safe-haven for people who want to bet where the user knows the roll will not be manipulated and knows exactly what the odds are.Do you consider offering gambling to be a moral issue? Is your view "If we wouldn't offer it they would gamble on another site" or do you think that some people may have started gambling by finding primedice and maybe wouldn't have started otherwise?
What percentage of PrimeDice players do you think are underage? Do you consider it an issue that players do not have to provide any personal data?
Makes sense. With 1% house edge, and reasonable betting, say the ability to pace yourself, there's plenty of time to re-evaluate.I don't consider it to be a moral issue, I view it purely as entertainment and enjoy responsible gambling myself. I definitely hit a point where I thought PD was a net negative for the community but then I watched site after site scam users out of countless thousands of coins. PD is a safe-haven for people who want to bet where the user knows the roll will not be manipulated and knows exactly what the odds are.Do you consider offering gambling to be a moral issue? Is your view "If we wouldn't offer it they would gamble on another site" or do you think that some people may have started gambling by finding primedice and maybe wouldn't have started otherwise?
What percentage of PrimeDice players do you think are underage? Do you consider it an issue that players do not have to provide any personal data?
At the end of the day gambling is the choice of the individual, but what is truly a shame is when casinos fleece unsuspecting users who think they are getting the advertised odds. We're even seeing this in multi billion dollar websites like Fanduel/Draftkings where employees have allegedly been playing with insider information to scam users out of significant sums. Many may disagree but If Primedice and our future offerings can bring provably fair gambling and a lower edge to the masses we will have definitively impacted this industry in a positive way.
Hey,Hi
First of all,
I had a lot a fun with this game, lost some coins as well but it was all just a game to me , I knew, up front what the risks would be. Not saying that profit is the core reason for joining such a game.
Sadly, I lost the password (wrote it down somewher in the complete stack of....) and never bothered to make an e-mail link. Autologin was unabled by some visitor and in complete innocence eradicated my few clicks login. It is not that there is so much on it, it's just the namethat matters to me.
I thought I lost it anyhow but now that I see that you are here, ill just spit it out I thought.
So here's my question: Could there still be by any chance just may be a way to recover that account?
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