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RE: Magic Dice - Mathematical Analysis on Dividends and Sustainability
Thanks for this. I'm contemplating a big delegation; even if it's only for the next 6 months.
Hoping its a sustainable business model.
It's definitely a sustainable business model in my opinion, since casinos by themselves are already sustainable and this adds bonus incentive. However, there is a lot of competition in the space so it needs to be the best to stay ahead of the competition.
Its actually not sustainable. Quite the opposite. Unless steem increase adoption or they manage to steal gamblers from other platforms.
Its designed as being an app with a dead end.
Over time all the crypto gamblers money ends up in the hands of magic-dice owner due to the 2% edge.
Once that happens the dividends start drying up making the tokens worthless.
Its already started happening on EOS and TRON...
This isnt a scam since the final outcome is obvious. But it does leave you with something worthless in the end you spent money to accumulate.
Most definetly do not support...
Not sure about the math you did, but this is only a semi decent short term inv.
One thing you discount a little is that steem users keep earning steem just by being here. So even if I lost each week. I would also be earning steem to come back with. They have a upvote plan for players that just needs a better format. I got one of these votes but it seems lucky right now. But the payout to me will be like 10 steem from the vote. I haven't lost close to 10 steem playing yet. Given I am a small time player with just like 12k magic tokens. So in the end I might never make it to 1 million tokens but I still say that people that earn steem might want to gamble it.
Sure. That might offset it a bit, but really, the slowdown would be extremely insignificant.
I do agree that once earning magic tokens starts to slow down so is the site unless like he said there are more games to play. So at some point it makes sense to just stop and collect what you can and that point might be soon.