Bitcoin gambler cheats Just-Dice out of 1, 300 BTC

The holder of bitcoin betting webpagina Just-Dice, a rival to SatoshiDice, had a severe ogenblik of funk a few days ago when a user taking advantage of a human error caused him to lose 1,300 bitcoins (around $116,090 at the time of writing).

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Known only spil ‘dooglus’, the possessor exposed on the Bitcoin Talk forum that he had made something of a colossal mistake. What happened wasgoed this: a player won a stream of bitcoins on the webpagina and asked to withdraw them, dooglus paid out, but left behind to liquidate the comprobaciĆ³n from the user’s Just-Dice account. The user then gambled – and lost – the bitcoins that were left te his account and dooglus covered the loss out of his own pocket.

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When he realised his mistake, dooglus contacted the user, who claimed he had left his laptop ter a cafe and that someone else logged onto his Just-Dice account and gambled the money.

I’ll leave it up to you to determine whether you believe that or not.

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What has bot most interesting about this entire mishap is the support given to dooglus by the community of Just-Dice users, with some pledging to donate all their future winnings to dooglus to get him back ter the black.

“The response from the Just-Dice community wasgoed so supportive. It wasgoed because of the community support and encouragement that I wasgoed able to turn this into a non-event. The community, at all times, seemed to have my best interests at heart and chic from a few ‘trolls’, the response wasgoed heartening,” dooglus told CoinDesk.

The community helped him to realise that the 1,300 BTC the user lost should be thought of spil fake bitcoins. When the user lost, those invested ter the webpagina or ‘bankroll’ thought they had gained 1,300 BTC, however, thesis coins were fake, so there wasgoed actually no build up to be made. With this te mind, dooglus simply spinned back the user’s bets that were made with the 1,300 ‘fake’ BTC and reclaimed the bitcoins that he paid out of his own pocket.

He said he feels he treated the incident poorly, but, regardless of this, very few people have since determined to leave the webpagina.

“Those who did leave voiced concerns regarding future challenges and my capability to overeenkomst with them. Thesis concerns are being taken very gravely spil I work to improve my abilities to better ‘manage’ the webpagina. Overall, the webpagina is still running with a high investment number, which points to continued faith ter the idea of Just-Dice.”

Dooglus said the incident has trained him to automate spil much spil possible and take time when making decisions, considering cautiously any deeds that may affect the webpagina.

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A ‘whale’ placing large bets on Just-Dice (BTC won/lost ter far right katern)

The rise of Just-Dice

Just-Dice has become phenomenally popular since it went live on 20th June, with overheen 429,600 BTC ($38.Four million) being wagered ter around 31 million bets.

“To be fair, the hefty surge took us by verrassing. I think it is an innovative idea that kasstuk the market at just the right time. People were tired of waiting for other sites to make promised improvements and switches, and were keen for something fresh,” explained dooglus.

He said he created Just-Dice because he wished to see a community-type webpagina that permits people to be equal on many fronts, unlike other gambling sites. He had bot playing around with the idea for overheen a year until he determined the time wasgoed right to get it out there.

Dooglus believes Just-Dice is different ter many ways to other bitcoin betting sites, for example, it is off the block chain, gives instant results and large maximum profit vanaf bet with a puny house edge. It also offers the chance to invest instead of/spil well spil gamble.

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“People seem to love the talk and camaraderie spil well, and can observe others betting and cheer for or against the ‘whales’.”

The real-time nature of the webpagina makes it pretty darn addictive, you can see how much people are betting and how much they win or lose. The majority of users are just placing puny bets here and there, but the whales do come along now and then to truly steal the display. So far, the largest amount lost on one bet wasgoed a whopping 640 BTC and the thickest win wasgoed 303 BTC.

Security fears

When a fresh user visits the webpagina for the very first time, an account is automatically created. If that person has cookies enabled, they’ll automatically be logged te each time they visit from the same rekentuig and browser. If they want to loom on using a different browser or pc, they can use a secret verbinding, but this needs to be kept safe spil it can be used to access their account oscilaciĆ³n.

This is similar to the system used by Instawallet, which is still ter something of a pickle after hackers gained access to all of its users’ hidden urls. Dooglus determined to use this system to make it effortless for fresh users to test out the webpagina, but recommends regular users take toegevoegd precautions.

“Wij suggest username/password sign ups and would recommend that anyone depositing take advantage of this. Wij also offerande two-factor authentication via the Google Authenticator app for your brainy phone,” he explained.

What next?

A few days ago, the holder of Satoshi Dice announced the bitcoin betting webpagina had bot sold for 126,315 BTC (around $11.Five million). It’s not yet known who the buyer is, but dooglus speculates they could be intending to attempt to challenge directly with Just-Dice by adding similar features and options – off-block chain betting, for example.

Dooglus said individuals asking to buy part of his webpagina have approached him, but no individual or company has made a formal opoffering to acquire it. “I’ve made it clear that I am not interested at this time,” he explained.

So, what next for Just-Dice? Dooglus said a webpagina redesign is presently ter progress and he is working through a long list of suggestions from within the Just-Dice community.

There are a number of things he and his colleague ‘Deb’ want to switch about the webpagina, but their very first and prevailing motivations are keeping users blessed and keeping the community spirit alive.

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What do you make of Just-Dice? Let us know ter the comments below.

The leader te blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a stringent set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests te cryptocurrencies and blockchain startups.

2 Comments

  1. free4uu

    June 17, 2018 at 1:48 pm

    no need for the user to download and install anything

  2. laura_happy

    June 18, 2018 at 2:54 am

    I agree with nxtchg te this… this forum is fucking total of speculators, I will make them wait forever too, indeed few people see the innovation behind fresh coins and only see old fiat currency…. if people truly care about innovation, nxt should be number one, followed by mastercoin, ripple, counterparty and similars, but instead of this, people proceeds with speculation like nxtchg says, If I were a dev I will make a test to all the investors and see if they truly understand ter which they are investing, and if not, I will take their money anyway without providing them anything… Truly hate this system te which more stupid and more rich becomes richer and richer spil they fatten their booty.

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