RE: Already Dividends Of ~13000 STEEM! - You Might Wanna Consider EpicDice.

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RE: Already Dividends Of ~13000 STEEM! - You Might Wanna Consider EpicDice.

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crypticat (70)in #epicdice • 5 years ago

Good writeup on Epicdice. You Europeans use very misleading commas, it's 1.086 Steem if you bet under 95 per 10k bet and win, not 1,086!

One day I plan on doing a full evaluation of token value. For now you can buy them for around 1 steem per 10k. If you were to get 10k gambling you'd have to bet 100 steem and you'd expect to lose 2, so it's better to buy them than to mine them unless you're lucky.

Delegation is the worst way. To get 10k you'd have to delegate 5k steem for a day. 365/5000 is a 7.3% return (assuming you can just buy 10k for 1 steem). You can easily get a better return than that delegating somewhere else and just buying EPC tokens with the Steem you earn from delegating.

This means either token price will go up or there is a significant risk premium assigned to gambling tokens and they are priced accordingly.

Now the daily divs are difficult to calculate. Let's say there is a daily volume of 20k, that means the site should earn 2% or 400 steem. They would then pay 200 to token holders. There are 318m tokens outstanding, meaning 200/318, 000, 000 is about a 0.62 percent return per 20k volume day on average per 10k tokens held. You would require 226 days of 20k steem bet volume to get your money back. That sounds amazing but we have not counted for the tremendous inflation.

20k volume means 3 mil tokens are given out per day. 2mil to gamblers, some for the mods, a lot for the house and some for leaderboards.

Volume has to drastically increase to account for this inflation, yet we all know once 10% of the tokens are issued it becomes half as profitable to collect the tokens through gambling and around half as much are issued not including giveaways. The token burn helps, but it's not nearly enough to counteract this phenomenon and its too soon to calculate since it is still novel and an initial bonus was given out. Let's just say it will help a little.

I have to do some more thinking regarding this all but the safest option by far is to diversify. In the end the tokens which will be worth collecting offer the highest benefits to the purchaser and these ones rely too much on their customers willingness and tolerance for loss.

I hold almost 4 m tokens, am trying to sell them but there just isn't the demand and everytime someone tries to buy in volume more mysteriously come on the market. There are only 10 to 20 accounts which hold more than I do.

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5 years ago in #epicdice by crypticat (70)

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hitmeasap (71) 5 years ago

You Europeans use very misleading commas, it's 1.086 Steem if you bet under 95 per 10k bet and win, not 1,086!

Thanks for letting me know. I've corrected the errors I spotted. It's not that I'm trying to be misleading personally, so I appreciate that you pointed out the error and said that it was "europeans". :)

If you were to get 10k gambling you'd have to bet 100 steem and you'd expect to lose 2, so it's better to buy them than to mine them unless you're lucky.

That is very true, and the same can be said for any other gambling dApp as well. At least any I know of so far. I still enjoy the gambling-factor though, so I don't buy as much as I could or should. In fact, I've actually been selling some tokens just like you.

Volume has to drastically increase to account for this inflation, yet we all know once 10% of the tokens are issued it becomes half as profitable to collect the tokens through gambling and around half as much are issued not including giveaways. The token burn helps, but it's not nearly enough to counteract this phenomenon and its too soon to calculate since it is still novel and an initial bonus was given out.

This is something I thought about for a very long time when I gambled on MagicDice. I knew, going in, that I would never earn dividens for several years, but I hoped that I would be able to get a decent profit after a couple of months. That being said, to burn tokens through gambling is definitely the best thing I've seen happen to somewhat counter the inflation. I mean, I don't believe EpicDice will yield me superb dividends for several years to come, especially if I don't increase my stake over time... But, I am positive that early adopters will benefit by holding as much tokens as possible during the first 6 months or so.

Hopefully, EpicDice have figured out something superior by then, so EPC holders can continue to earn dividens in the future as well. Only time will tell.

That being said, the dividends are extremely difficult to calculate. Both now and in a few weeks or months to come as they depend on overall volume and distribution. I see a slight increase in volume these recent days compared to a few weeks back.

I hold almost 4 m tokens, am trying to sell them but there just isn't the demand and everytime someone tries to buy in volume more mysteriously come on the market. There are only 10 to 20 accounts which hold more than I do.

I have noticed that too, and I think it's due to the actual price of the tokens. I've noticed that tokens for 0.00007 and 0.00008 are going fast. They are being bought in seconds. Some seem to have started to buy at 0.00010 now though, so hopefully it might stabilize a little bit with time.

With all this being said:

One day I plan on doing a full evaluation of token value.

Please do. I would love to see something really in-depth regarding tokens and their value in general, regarding all gambling dApps. Something like a comparison between different gambling sites and their tokens would be cool too.

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