EpicDice might be what you are looking for if you ever felt that you missed out on the good opportunities of KryptoGamers and MagicDice. The latter was obviously trash for everybody in the long term, but it's impossible to deny that several of the early adopters made huge profits due to the dividends.
One could say that I am an early adopter of EpicDice, the most transparent STEEM gambling dApp out there, but the truth is that everyone would be early as they've distributed only 4% of the supply so far.
1 STEEM = 100 EPC and the distribution rate will be halved for each 10%, so in about 6%, you'll earn 50 EPC for each 1 STEEM.
Some of the coolest things with EpicDice so far, is that you can both buy and sell tokens on steem-engine, but you can also gamble with your tokens directly on the site. In a winning scenario, you'll get 95% of the tokens back and the winnings in STEEM. In a scenario where you lose, 100% of the tokens will be lost and burned, which basically means that you either burn 5% or 100% of the tokens whenever you gamble for tokens.
Since they made it official, 12 days ago, that you can gamble with tokens, they've paid out more than 947 STEEM and more than 13.000,000 tokens have been burned. This does not only decrease the total supply of the tokens, it also, eventually, can and most likely will increase the value of the EPC tokens further on!
12900 STEEM has been paid out to token holders since the launch of dividends, (approximately 2 months ago), and I have personally received 312 STEEM so far. I have also, since today, become a moderator in the Epic Dice discord channel. They are still looking for Korean and Japanese moderators, and you can apply here.
Are you not into gambling, but looking for a potentially good investment? I say potentially, because there's always risk involved in any type of investments, (while the risks with delegation are minimal), you can buy EPC tokens on Steem-engine and get a share of the dividends on a daily basis. Or, in case you want to invest with the least risks there is, delegation might be what you are looking for.
Every 1 SP delegation earns 2 EPC daily. It takes one day for the delegation to be effective in order to receive the dividend from the moment of delegation. - For quick delegation links, check the bottom of any @epicdice articles.
Now, I know that 1 million EPC tokens or 100 STEEM might sound like a small fortune for some, but I only took 1 million tokens as an example, as it is easier to use that amount of tokens to calculate a somewhat accurate payout in STEEM.
You see, I have about 10 million EPC tokens and I have been paid 312 STEEM at the point I'm writing this. So a rough estimation would be 30 STEEM if I had 1 million tokens instead...
Note that this is the total amount of dividends I would've got in approximately 2 months. So, if I had bought 1 million EPC 2 months ago, I would've got roughly 30 STEEM so far.
Also, what you need to keep in mind, is the increase in users and stake during that time, so I have been paid larger amounts these last few days (weeks). A guesstimation would be that it would take about 2 weeks at this current pace to reach 30 STEEM with 1 million EPC.
That said, there are options for non-gamblers with EpicDice too!
While I'm talking about the options for non-gamblers, I might as well talk about the referral program. This is obviously not only for non-gamblers. This is for everyone who's interested in earning a passive income for referring others. - Icing on the cake, so to speak!
You get 10% of the house edge from referred users and one of the coolest things about the referral program is that anyone can sign up using your link, and they can change their referral at any point in time by using another referral link. - Sounds weird?
Let me explain this in a different way:
- User A signs up under my link.
I get 10% of the house edge from User A, as long as User A does not use another referral link.
- If and when User A wants to use another referral link, he simply use User B's link and User B will start to receive 10% from the house edge due to EpicDice's unique one-day lockdown mechanism. Meaning, I will not receive anything more from User A after he has changed referral link.
- All the referral bonuses are paid on a daily basis.
How Cool Is That?!
I haven't mentioned the Daily Bet Contest where you can win prizes in forms of EPC tokens, because truth is, you'll find out in case you're going for it or not. It's as easy as gambling, but you need to wager a lot of STEEM to have a chance of an additional chunk of tokens.
I will, however, mention the Prize pool for token gambling. Like stated earlier, you can gamble with tokens on EpicDice. At the current time 100,000 EPC is worth 1.042 STEEM (affected by amount burnt & halving). If you place a bet of 100000 tokens at "under 95" for instance, you'll get 95% of your tokens back and 1.086 STEEM if you win. The 1.086 STEEM comes from the Prize pool, which is topped up with 3 STEEM every hour. The cap is set at a maximum of 300 STEEM in the prize pool, but it usually drains quickly after it reaches around 30 STEEM right now.
I love STEEM, I love gambling and I love the superb opportunities of passive income. EpicDice seems to be a perfect match for me and I will continue to gamble, acquire tokens and receive dividends for being an investor. - What about you?
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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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". :)
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.
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 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:
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.
Can i still make profit after losing my bet ? From your write up i understand that i can still earn token after losing my bet, did i get it right? Please explain more so that i can understand better.
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Hello @enm1.
You earn EPC tokens for each bet you place. 1 STEEM = 100 EPC at the current distribution rate. So, if you place a bet of 1 STEEM and you win, you get the winnings and 100 EPC tokens.
In case you lose, you will still get 100 EPC tokens.
In other word with my bet of 1 steem, am buying the token and winning of the bet is an added bonus
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Ye I stopped playing and just bought them at SE x)
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That's cool! :)
Have you managed to get something "decent" out of it so far?
Its very different what I get. I have gotten 0.025, 0.062 and 0.016. thats the last 3 transfers. I do also only have 31000 tokens, so not that much :D
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Everything adds up though. :)
Thats true and thats why I bought some more.
Btw, congratz on becoming the moderater for @epicdice :D
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Sounds like a solid plan. :)
Thank you!
As a Korean, I am fascinated by this place, but sometimes I want to be a mediator like you.
Help me. You do the best you can.I'll do a good job.
I don't have a saying in who the epicdice team chooses to become a moderator. I suggest you apply in their official post and on Discord. That way, they will review your application and get back to you once they've decided.
Thanks for letting me know.
Nice article
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Thank you!