Today at CryptoNewsZ, we are joined by Bryce Daifuku, CEO and founder of MintDice. MintDice is a social online Bitcoin casino that runs off several cryptocurrencies, including Bitcoin. Bryce is also a veteran of the gambling industry, thanks to his former career as a professional poker player.
CryptoNewsZ: Bryce, our readers would love to know more about your extensive career and what sparked your interest to launch a cryptocurrency casino rather than a traditional casino?
Bitcoin is a natural fit in the online gambling world. With fast processing times, low fees and a high level of convenience it is helping to disrupt the mainstream traditional online gambling scene. When it comes to offering the lowest house edge or highest Return To Player (RTP), traditional casinos simply can’t even come close to what Bitcoin and cryptocurrency can offer. The rates can frequently be 2-8x cheaper than traditional casinos which many gamblers pay keen attention to. Additionally, through the use of blockchain technology and Provably Fair technology we offer some of the most transparent and fair casino games anywhere in the world through mathematical proofs – not just an arbitrary third party audit.
For these reasons, since it is an emerging/growth industry, it seems like a good speculative industry to be a part of. And with my life’s professional background knowledge in both gambling and cryptocurrency I’m able to lead the project quite efficiently as we scale development forward.
CryptoNewsZ: MintDice is the world’s best fully-featured online cryptocurrency casino. Would you like to tell us more about MintDice and how did you come up with the idea of the same?
Since the birth of Bitcoin casinos, most betting has taken place by more computer-savvy bettors. These early Bitcoin adopters demanded more mathematical transparency from their online casino providers which lead to the creation of Provably Fair technology. This, however, has created a problem and a solution in our eyes.
Provably Fair technology is an open sourced protocol to help ensure fair betting takes place between the house and the bettor. This requires in virtually every capacity the online casino to build their own casino games if they want to have Provably Fair technology. Frequently these games are built to a sub-par industry standard with either low quality graphics, a low quality interface, betting systems or other problems. Meanwhile many of the “higher quality” licensed casino games present on the market, that one can see spammed across almost any online casino, lack transparency or Provably Fair gaming technology which to us is morally bankrupt to adopt when fairer technology already exists to protect consumers.
MintDice seeks to be one of the first and only online casinos to bridge this gap by creating high quality casino gaming and skill gaming using as much Provably Fair technology and Blockchain technology as possible with our completely in-house built gaming systems integrated seamlessly into our own bespoke platform.
CryptoNewsZ: MintDice is the world’s most prominent online Bitcoin Dice casino. In your opinion, what sets MintDice apart from other cryptocurrency casinos?
Aside from the idea that we just mentioned earlier trying to bridge the gap between high quality gaming mechanisms while also offering Provably Fair technology we offer a few services that make us relatively unique in the online Bitcoin casino space:
- We offer a bankroll investment feature allowing users to invest in our casino and profit-share with MintDice.
- We offer skill gaming on our platform allowing some users to win money in a long term and sustainable sense if they are skillful enough to win.
- We are continuing high quality and active development of our product as long as MintDice is open to the public, which means a constant ongoing increase of options, features and games for users to look forward to over time.
CryptoNewsZ: MintDice has a third brilliant risk free investment method known as “Be the Bank.” Please brief us about this and when is MintDice planning to launch this project?
By investing in the profit-sharing method of MintDice investors expose themselves to risk. While the casino house bankroll will generally win over time, it is not guaranteed to win since gamblers do get lucky from time to time. In order to appeal to various types of investors, we have created Be The Bank as an idea to allow users to simply gain a portion of expected revenue from casino profit sharing in exchange for their investment into MintDice. The downside of using Be The Bank is that the expected return will be far less than the expected return of simply investing into MintDice’s bankroll and absorbing risk.
With our entire platform, our objective is always to appeal to the widest range of people possible by offering services that suit many different demographics and personalities. Be The Bank is another solution to this problem.
We have no firm launch date for Be The Bank yet because we are more focused on other more pressing tasks. I would expect, however, that we can attend to this around Q3 2020.
CryptoNewsZ: Please tell us about the incredible team of MintDice and how the team deals with the ups and downs within its business?
It depends a lot on the season but there have been roughly 12 people involved with the project depending on the month or year. We all get along just fine and it has largely been contracted work or work based on a meritocratic structure. Those who perform the best, tend to last the longest and those who don’t perform quality work over time tend to not last as long with the company. There’s a number of very high quality team members that have been with us since the beginning and will continue to stay with us because their work output is of very high quality and they are honest, high-integrity individuals all working towards a common goal.
As far as dealing with the “ups and downs,” managing any company will come with its fair share of drama and stresses but ultimately we are mostly just focused on high quality and long lasting product development to integrate MintDice firmly into the very top of the online Bitcoin gambling space. What happens in the short term isn’t really an issue to us ultimately one way or the other with long term outlooks and generally only positive growth in both development and marketing.
CryptoNewsZ: MintDice is loaded with intriguing games like Plinko and Pyramid. Which of these do you find the most enticing; what parameters do you implement to attract new users?
This Dice game is our most popular game and has been the most classic and iconic game for Bitcoiners in existence. Our future game developments will mostly enter MintDice to serve new, unique, and different purposes. We currently have 3 casino games and 1 skill game in operation. We are in the process of adding at least 2 more skill games and one more casino game in the near future along with a sportsbook.
When we are developing new games at this point in time, our question is whether or not the game in question is sufficiently different enough from our other games, unique in the overall industry, easy to understand and fun and enjoyable for the community at large.
By offering a large diversity of games and game types, our goal is to use this as a platform to appeal to many different types of people and demographics. Some may prefer low-risk or high-risk casino games. Some may prefer a certain type of skill game. And some may prefer risking very small amounts of money with a chance to win big life changing money. We currently offer and will attempt to offer chances to do all of these things and more as our platform continues to develop.
CryptoNewsZ: Currently, what are the upcoming launches of MintDice? Should we look forward to more symbolic partnerships in the future?
Before the end of 2019 for MintDice we are hoping to launch three key products: Pyramid Bitcoin Investment Game, the PowerMInt Bitcoin Lottery and a chat rain program. Pyramid will be a game of skill, PowerMint will be our newest casino game and our chat rain program will encourage user interactivity on our website making it a more social environment for all of our players, both new and old, on MintDice.
As far as partnerships go, MintDice has not had many opportunities for partnerships to date since we have had to build all of our infrastructure in-house to ensure that they are of sufficient quality while also making sure that our games are 100% Provably Fair. However, with a SportsBook using Provably Fair technology is not something could even exist, so we do plan to form a partnership with a SportsBook provider in the not too far off future and are already in discussions with a few platforms. If we are fortunate and work hard enough, our custom SportsBook product could be launched Q1 2020.
There are some other capacities where we may be able to form alliances with third party companies to value-add for the both of us but our willingness to do so is relatively strict based on a rather rigorous code of ethics and functionality. Most importantly, we have to ask ourselves if doing it ourselves will make the product in question more fair or not and if the service in question adds new value to our website. If licensing a product through a third-party is cheaper, easier, fair to users and offers something new and exciting, we are more likely to form partnerships but that is a high barrier to cross.
CryptoNewsZ: Bryce, thank you very much for providing your valuable insights into the crypto casino space. Compared to your other counterparts in the industry, not much is known about you. Our readers would like to know more about your interests other than casino.
I honestly really enjoy working and striving for improvement every single day. I’ve already had the opportunity to largely retire and exit the workforce early due to a rather fortunate and lucky early adoption into Bitcoin. But I highly value productivity in both myself and others, and for me personally, nothing outdoes high quality work for a sense of accomplishment and self-satisfaction. I’ll probably be working hard for the rest of my foreseeable future mostly out of passion, regardless of future circumstances.
However, outside of work, you can find me riding my bicycle, socializing with my best friends over dinners, engaged in various activities of the month like bouldering, parkour or BJJ, or engaged in the study of sciences and finance.
CryptoNewsZ: Bryce, you were a professional poker player for around six years and was very in tune with the casino industry. What advice would you like to give to those who want to start their careers in the cryptocurrency casino industry?
There are many factors that can get easily overlooked. Very importantly I’d say to make sure that any game creation is very intuitive for your users to understand and as easy as possible for them to play. As far as game creation goes, make sure that you don’t limit yourself or your game’s potential with player pool liquidity concerns. And if you are going to enter the arena of skill gaming, make sure that any game is highly resistant to AI/botting or else your website will get run over and quickly die off.
And more important than all of the above, make sure that you are introducing something new or substantially better to the space that will help you attract customers organically. Entering the market without innovation or a plan will be extremely difficult with the already established casinos in existence.
We at CryptoNewsZ, thank you for sharing your time and thoughts with us. We wish you the best for all your future endeavors