Bitcoin Forum

Ok, so I understand most of it...

You go to the site.
Use one of the codes that randomly generates, and the odds of you winning should be written next to the code
That code goes into you blockchain account as an outgoing payment (here's my first question) how much do I bet?
Then once it sends off... How do you know if you won or lost... Seems like they are just stealing our money right?

It's Satoshi Dice, not Saratoshi Dice


However much you want. The minimum is 0.01 BTC.  The maximum is posted on the website for each of the odds.


The transactions are posted (http://satoshidice.com/lookup.php?tx=&limit=100&min_bet=0) on the Satoshi Dice website along with an indication as to whether they won or lost.  If you win, Satoshi Dice will send your winnings back to you, so you'll see a transaction from SatoshiDice coming back into your wallet with the winning amount.  If you lose, Satoshi Dice will send 0.00000001 BTC back to you.  When you receive that 0.00000001 BTC transaction you know that they processed your bet and that you lost.

They post the calculation used to compute winners and losers on the website:

You can wait a day, take a look at the "secret number (http://satoshidice.com/secretlist.php)" and perform the same exact calculation to verify that they didn't cheat and that your losing bet actually was a losing bet.  They post the hash (https://s3-eu-west-1.amazonaws.com/satoshidice/hash.keys) of the "secret number" for every day for the next 10 years, that way you can verify tomorrow that the "secret number" they used actually is the "secret number" that they said they were going to use.


Well, the odds are stacked in their favor, but they do tell you that up front (every single bet advertises a 98.1% expected return, that means in the long run you can expect to lose about 1.9% of the sum of all the winning and losing bets that you ever play).  Is that stealing, or is it the price of entertainment?  That really depends on your personal attitude towards gambling.

I placed 2 bets yesterday and got nothing back...

1dice9wcMu5hLF4g81u8nioL5mmSHTApw (SatoshiDICE 73% )
 
 2013-02-27 11:56:28

-0.0015 BTC



1dice9wVtrKZTBbAZqz1XiTmboYyvpD3t (SatoshiDICE 97% )
 
 2013-02-27 11:54:01

-0.00051 BTC

There are a LOT of Satoshi Dice transactions.  It would be easier to look into what happened if you could offer the transactionID or Bitcoin Address that was used as the "input".

Its an elaborate delay-of-service attack, which you pay for in the time it takes to sync the bitcoin client for the first time, or when you need to get up to date after not running it for a while.

It is also responsible for 48% (and rising) of the total blockchain size right now. So when you play, you're actually harming yourself and other future bitcoin users.

Oh, and the creator(s) are totally aware of this, but think you dealing with it is a good thing.

Enjoy.

I've played around with this briefly, but the system is designed for you to lose. Even if you win, on the lower risk bets, you lose because of transaction fee.

That would be true of all gambling businesses.  They can't make a profit if they are designed for you to win.

But this does not mean that EVERY player has to lose. But, the longer you play, the more likely your net balance will be negative, because of the house edge.

anyone know any good LTC gambling places?

min bet is 0.01btc
p.s. click on "Read this warning first" located right below step 3.

Remember, gambling is evil.

Remember, inflating the blockchain is evil.

(fixed)

If a single service is so dangerous that it will kill bitcoin with this blockchain inflation then bitcoin has serious flaws.

Where did that come from?  I don't see anything in this thread about "killing bitcoin with blockchain inflation".  Your FUD is ridiculous. Please find some other thread to make your alarmist claims.

Wtf?

I was replying to TraderTimm, he says that inflating the blockchain is evil and blablabla. I am saying that no, it is not evil, and no it will not kill bitcoin. And no it is not harming the future of bitcoin. Because, as i said, it is not so easy to kill bitcoin. If bitcoin is so weak that satoshidice is more than enough to kill it then something is wrong.

I still don't understand why SatoshiDice insists on wasting network resources when they don't need to at all. I mean, OK, I get it, they can do whatever they want as long as they pay the tx fees, but seriously, why not just use bitcoin properly instead of taking up space on my HDD and using up all of my bandwidth. Now we're hitting the block soft limit, and the culprit is SDice and their spammy wasteful transactions, and the number of nodes is dropping due to all the resources SDice wastes.

I suppose because they can.  If satoshidice alone is filling our hard disks and connections then we better find a way to fix it now, or there is no way we can deal with more bitcoin adoption.

Here is the thing: Bitcoin doesn't scale too well and isn't ready for that kind of adoption, the network isn't nearly capable of handling a lot of transactions, Satoshi was of the opinion that we need to let the network grow slowly and make changes as we go along and I definitely agree, all of this stress on the network isn't good at all and is going to start causing problems right about now.

anyone know of a free gambing site like that?  not to play, I mean free script

What problems exactly?

.....you don't want to raise block size?

don't play.  its socially irresponsible.  and i'm not speaking out on gambling. gamble all you want, but this game just pollutes the block-chain with worthless tx's.  please.  don't use SPAMDICE!

I've never use the site but this is inevitable.

It's Satoshi Dice, not Saratoshi Dice, I'm building some new bitcoin games that will be way more fun than SD

The OP apparently doesn't know he can change the title, someone already pointed out the typo earlier........................ unless there's an actual Saratoshi dice................

Has anyone ever calculated the total transaction fees generated by SatoshiDice? Perhaps mining wouldn't be so profitable without them.

That's the general logic............

There's beef somewhere.

Nah, the blocksize limit is too high, at least for the current crop of hard drives.   The fees paid are only at most a 1% of the current block reward.  And i don't think we *need* so much mining to have a very secure system.

I say again, the rent is just too dam high.  With the blocksize limit was 128k, hard baby.  hard as my head.

Satoshi Dice (possibly) creates a large increase in profit for miners (if anyone checked the blockchain info the other day), which in turn will = more miners and current miners investing in more equipment, which in turn = even stronger 'community strength' that governments and such can't break into, and it means a faster growth into the bitcoin market (as more miners invest fiat into mining gear, then (hopefully) the profit from the mining is kept in the bitcoin world).

Basically forcing a faster growth than expected, the mining should keep up because of the equilibrium balance.

The blockchain info that is down, is just a 'recording' of the transactions? if I understand it correctly? And it's down because they wasn't ready for that kind of info going through, but it only effects the system in that it's slowed up transactions, though increased mining profits, which will swing back and counter balance.

right?

You forgot to mention that SatoshiDice also pays more in transaction/mining fees than everyone else on the network, combined.

So it's paying for its usage. Kinda silly to call it an elaborate delay-of-service attack when it's playing by the rules of the protocol.

In fact, SD pays a fee for every single transaction it makes, can you say the same about yourself? Why are your transactions, which sometimes do not include a fee, fine and dandy? Yet SD transactions, which pay 100% of the time, are an elaborate delay-of-service attack?

Thank-you everyone for your explanations I always wondered about SD.

Care to comment on the "unspendable outputs" at all? I'd love for you to have an in-depth conversation with gmaxwell in #bitcoin on chat.freenode.net about it. He knows a lot more about blockchain mechanics than you do, being one of the core developers.

It just boggles my mind that you'd use the "playing by the rules" defense instead of taking a deeper look at what you're doing to the bitcoin ecosystem.

I'm sure there are corporations out there that are licensed to dump their toxic byproducts into the environment under "regulations" and such, it still doesn't make it right.

You're right that SD is inflating the block chain and that every new user will curse the gigantic file he or she has to download before being able to start using bitcoin. But is this SD's fault? No, SD just magnifies the problem and shows us that bitcoin is not yet user-friendly. We have to work on the system itself instead of condemning those who make its flaws visible.

I've made a few and lost a few with satoshiDice. It's highly addictive - gambling at it's most lethal. 0.01 BTC bets turn to 0.1 BTC bets, that's ten fold! And bitcoins are getting worth more and more at the moment


Watch yourself....