My Magic Dice on Steem Review.
Playing Magic Dice on the Steem Blockchain with Randy Hilarski.
We all know that in order for Steem to compete with the other blockchains SMT's (Smart Media Tokens) need to become a reality and Magic Dice is one of the first to release a product.
I have been playing Magic Dice over the last few days and I am enjoying it. Sure I don't take too much risk so my bets are very conservative but I have been able to build up a substantial amount of Magic Tokens. Currently for every 1 Steem you bet you will receive 25 Magic tokens. Soon the reward will be 12.5. You can see below that I have 72,413 Magic at the time of this post. My goal is 100,000 Magic tokens.
Now Magic tokens will be capped at 7 billion tokens so that is quite high. That means my 100,000 tokens will make a very small splash in the beginning but that is ok. To help build my Magic token stash I have decided to delegate @MagicDice 1000 Steem Power. For each Steem delegated to @MagicDice I receive one Magic Token per day. This is a great way to stake and make possible future gains. The @MagicDice team will use this delegated Steem Power to upvote users content who delegate. This is a Win Win!
Join Magic Dice Today and Use My Referral Code Please.
My Referral Code--> https://magic-dice.com/?ref=hilarski
I achieved my goal of 100,000 Magic tokens.
I've both won and lost with Magic Dice. It can really suck when you lose (and it can happen several times in a row) but it is also possible to win. Seems to work as advertised and they even upvote players randomly. The value of the tokens will really depends on the adoption of Steem and the game in general, but the more reasons to draw players to the blockchain the better. Just remember the old adage of not betting more than you can afford to lose.
Yup, I got burned a few times in a row. The probability of it happening was astronomical.
Above 50 probability should be about 50% each time, so for it to be above 50 ten times in a row should be less than 0.1% chance, but it happens.
(1/2)^10*100%
I did the math on Magic Dice using the 94% bet which pays 1.043 STEEM if you win.
So:
If you bet 1 STEEM each time and play 100 times:
You will win 94 times for .043 STEEM = 4.042
You will lose 6 times for 1 STEEM = 6
At the end of 100 rolls you will have lost 1.958 STEEM
Then looking at 50% bet which pays 1.960 STEEM if you win.
If you bet 1 STEEM each time and play 100 times:
You will win 50 times for 0.960 STEEM = 48
You will lose 50 times for 1 STEEM = 50
At the end of 100 rolls you will have lost 2 STEEM
I am not a gambler, but took at look at this the other day. I might be missing something, but this is how I think it goes.
You also gain the Magic tokens which I am gambling on the possibility of them being worth something.
Hmm... I wonder how much that would factor in? I don't think there is any way to know in advance.
Magic Dice has rewarded your post with a 85% upvote. Thanks for playing Magic Dice.
I just waste my Steem every time.
Posted using Partiko iOS
Great post!
I been keeping a eye on magic dice for about couple weeks now from the sidelines. I might start taking some conservative moves as well.
Thanks for sharing & Steem on :)
Congratulations @hilarski! Your post received a small up-vote from @wod-game as little gift.
We are a small group of people who want to create the next big Video game for Steem.
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Steem: @wod-game
Discord: Click here!
Have a nice Day!
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