You are viewing a single comment's thread from:
RE: GAMER Buyback System is LIVE
- Clarification: Withdrawal date after 5th May does not mean that the profits were made after 5th May. As I said earlier, most of the profits were made before 5th May. And the first dividend was not the sum of all previous days. It was just the dividend on that particular day was very high because @cryptoeater wagered too much on that one day. You can still check his transactions on that day to confirm this.
- Q1 & Q2: No one can predict the real earnings from any game. One can only know for sure that the house edge will be the earnings of the casino in the longer run. In blackjack, we do have earnings more than house edge while in dice, our earnings are much less than the house edge. So in effect, we were trying to minimize the volatility and wanted to offer a more stable dividend to the token holders due to which we used the house edge distribution model which most people seemed to like as magicdice also had implemented the same model and was a big hit.
- Q3: Token burning is done to increase token value in the longer term. If majority of the community members feel that the dividends should be based on real profits on the casino and are happy to not receive dividends when casino makes a loss, then we would be happy to discuss the changes that we need to make in our current dividend distribution model, if possible.
@cryptoeater @lexilee @proof-of-work @broncnutz @virus707 @luckystrikes @abrockman @mentalhealthguru @khaleelkazi @trydice @bluesniper @freegon @superlotto @quuu @cryptoknight12 @zzings @holoz0r @seohyungoo @glastar @mini.supporter
You are the TOP20 GAMER token holders, what do you think about all this topic and the possibility to calculate dividends based on the real profits of this casino instead of having it based on the pessimist house edge percentage.
For you information, I'm also in the TOP20, my tokens are just not staked because in the current conditions, I'm thinking to sell them all to invest in other projects more profitable.
I would prefer whatever leads to long-term sustainability. The only reason the house always wins is because they play every game.
I'm staked to be the house.
I traded a large quantity of steemmonster cards for my current position in kryptogamers, and took a chance on the tokens.
I'm in a significantly worse position than what I was had I held the steemmonster cards, but I took a chance.
I had no real expectations, and at the end of the day its just (digital) tokens.
Would I be sad if I got more each day I hit "claim" - No.
The long term upside of HODLING the token is that as more are burned (and as distribution slows down) - the portion of rewards you get relative to the tokens you hold should increase, if volume stays the same.
Like with all things, there's a spike when it is first released and its new, shiny, and everyone wants to play, experiment, and see what they can do.
I'm not about to dump my tokens on the open market, but I'm not about to buy more either. :) Doing so would change the definition of HODL.
I got sucked into this game under the false pretense that it was "provably fair". I know what REAL BlackJack "feels" like. This is not that and I have now decided that to spite the guy who got me into this by promoting the game in his posts ( @vlemon ) I am going to continue playing until I lose all 1,500 Steem I had when I got sucked into this. I just spent the past five hours playing blackjack and have hit maybe ONE or TWO series of 2+ wins. That is NOT in line with REAL Blackjack. I am IRATE over the fact that I got sucked into this, and in rebellion I'm just going to say "FUCK THESE COINS" (as the 1,500 Steem is now "dirty money" as far as I'm concerned) either run it down to ZERO or back up to 1,500. I'm never touching another online gambling app ( blockchain or not ) ever again. In one will I will probably lose a YEAR worth of Steem earned from my posting...
Clarification: For checking your wallet almost daily I can say you that the withdrawals done after 5th May are profits done after 5th May as you only let each time between 20 and 30k of STEEM after each withdrawals on your wallet. So we won't fight about this point but I'm not agree with you.... sorry
Q1 & Q2: Ok let's say no one can predict the results but numbers are showing you are too much pessimist to only take into account the house edge as profit for the dividends ;)
Q3 : I let you raise that question to your community (because it is your project after all) but do you think really token holders won't agree to receive more as dividend ?
Because in all the cases, as you said it yourself, the minimum earning for the casino at the long term will be always the house edge, but it is the MINIMUM and this is what you are using to calculate now the dividends for the holders.
=> So we have no risk at all to have a calculation based on the real profit, just the risk to have more dividends. The only negative point will be that some days we won't have anything, but other days will bring much more STEEM and at the end, we will have for sure more dividends. It is just mathematic. If you are fair in your explanations, I have no doubt at all the token owners will go for this new way of calculation of the dividends... The only negative point is that you will earn less at short term but consider also that it should increase the value of your token and I suppose you have many of them aside ;)
Finally, we can see some intersection between our points. Just one point which needs to be added is that there is NO guarantee of income from the second model as we have had long streaks of loss days and the house edge is not MINIMUM earnings because in dice, as said earlier, we have not earned even the house-edge ("MINIMUM" as you call it) if you sum it up until now. To sum it up, we can think about the changes in the dividend model if the community agrees. Also, with the kind of low volumes right now, it would not make a difference if we switch to either of the dividend model because there would be no dividends without any volume. So our target would be to atleast achieve some sustainable volume before deciding any changes.