Bitcoin Forum

Hey Everyone,

Here to announce my first crack at an altcoin FPSBetCoin [FPSc].  And wanted to get everyone's pulse to see if there would be in interest in this, and also to get concerns and issues up front.

{Full disclosure I am a pool operator and will be using my real BCT username for this coin.  I will do my best to operate this coin to its fullest, and see it through.  If at anytime I need to drop the project I will let the community know.  I will not cut and run on this project and put my pool at risk.  And I will be able to manage the pool and the coin at the same time no problem :)}

This ANN is still incomplete and more will be added at a later time.  

OMG another altcoin?

Yes another altcoin.  The uniqueness wont be in the coin as it will be almost a identical clone to a x11 Coin. The real beauty of the coin will be in the service that will use this as its betting asset.  The coin will be the only asset accepted by the betting platform, and the payout will be in this coin as well.  And as you can tell by the coin's title the focus will be FPS games.  

The idea is everyone would put their ante in the game that is playing the private match and the winning team will get the pool of the bet.  We will then be adding block explorers and leaderboards to the site as well.  Also will be allowing the assets to be purchased with cash at the going rate.  

Okay, the details

We are going to start with one game to start, and that will be battlefield one, using the twitch streaming service.  We are going to start by keeping it on a per match system and eventually move to a tournament system.  We will also be allowing non players to place their bets for a 5% fee in the future, and the service will get 2.5% and the winning team will get 2.5%.  

The coin will allow you to buy the coin on the website but will not allow you to sell.  This way we stay in the legal spectrum of the betting world.  In other words you are allowed to bet in game items, or digital items (the coin), and you are allowed to buy the digital items to play for fun.  The selling would occur on a 3rd party exchange which we have no control over.  So you will be betting digital assets not money.  (But you can exchange the assets for money on another site not based in the US if you so choose so.)

Time Table

1. Coin Release on 8/26/2017
2. Search for graphic designer from BCT community on 9/09/2017
3. Simple functionality Project website creation on 10/26/2017
4. Simple functionality website BETA launch on 12/3/2017 for top 1000 holders of FPSc
5. Graphic Design website open BETA for all users on 2/18/2018
6. Full launch 6/10/2018

Future Bounty's (Looking for people on this forum)
All bounties will be paid using the 2% pre-mine.  

Current Needs
1. Will need a graphic designer to spruce up the ANN as well as help design the website.  PM for details - need previous work references
2. Will need a PHP or ASP.NET developer to help build the service.  (I will be leading the project but my server side scripting skills are a bit rusty, I will be more of a project manager for this then a coding guru.)  PM for details - need previous work references

Future Needs
1. Need promoters to put in their signature
2. Need Game Ref's to monitor the stream and input the data into the portal, this will let the website know who to pay, and the betters will get paid on their bets.  [PM if interested] We will be posting the prospects on the forum and let the community decide the first batch of Ref's.  Ref's will be paid 8% of the 10% player fee.  The service will take the 2%.

...More coming soon...

P.S.  This is not an active coin yet.  Wanted to get everyone's thoughts before everything is made.  

Current Details Known for Coin
Everything is up for discussion as well.
Algo - X11
Coin Supply - 100,000,000
Block time - 1 minutes
Pre Mine - 2%

Block code:


There will be a 5000 block reduced coin supply to create a super fair start.  (This will last for about 3.5 Days).

Other details coming soon!

Let me know what you all think, I'm open to all comments, if you think its stupid please say so (I wont take it personally)  :) Or if you have suggestions, comments, concerns let me hear it.  Hopefully we can make this a community driven coin with a purpose that will actually be used for more then mining!  Also any potential partners in the project please go ahead and post (Don't PM me) as I want to get the communities pulse on the partnership.

Thank You,

Reserved.

I think if you're really serious with this project, this is great for FPS gamers. But you have limited community for this. And if you will push thru the development and be active, I believe you can gain loyal supporters thru time. Unlike any other coin that were launched just to get fast cash and then, disappeared or abandoned once few BTCs were  acquired.

What about windows wallets ?  Link download  ,  i see at here  roadmap and great ideas, hope you make a project successful,

youre spefication coin is not enough and not detail
how much total premine, where wallet addres, where pool mining and more

Thank you for your feedback.  I agree it is a limited community, maybe in the future it can be expanded to more multiplayer (Madden, etc).  This is why I think it is important to be able to buy this in USD to start as well.  I do not want to make another coin that makes the dev money and steals from the community!  Marketing will be tough though.  

Hello,

This is a PreANN nothing is out yet.  Will update the OP when everything falls into place.

Thank You!

reserved

Hello,

Premine will  be 2% but is up for discussion with the community.  Wallet is not out yet, and pool mining will be out at release with the pool I operate.  (http://SteamOctanePool.com)

Thanks!

Interesting idea, especially as Esports is still a growing market.

The only thing I am critical about is the algorithm.
SHA256 is horrible to handle for smaller miners. As there are tons of ASICs out there for SHA256, smaller miners will probably not try to mine and your coin might run into a state of monopoly or oligopoly mining among a few ASICs.

If you were to change to a less vulnarable algorithm, chances are that it is viable for smaller people to support your coin as well.

The blocktime with 10 minutes is quite high, especially considering that a lot of FPS games are fast paced in contrast. Therefore, including maturing of blocks, it will take long to verify your results. So you might play 2-3 more rounds while still waiting for your early results to verify. This may or may not be a good idea, but considering how quick centralized betting systems are (delay of usually less than two minutes) people might see no benefit in a blockchain variant.

If you have thought about those points beforehand, let me know what your input is ;)

Good luck with your coin anyway!

Hey!  What Algo would you recommend? 

I agree with the transaction time.  I will lower it to 1 minute block times so the transactions process very quickly.

Thank you for your input!  This is exactly why I made the announcement before building the coin.  Want to work out the kinks before rolling it out.  :)

Thank you for your troll input.  Dually noted. 

huaman dev , ;D

As far as I know there are ASICs for SHA256 and Scrypt. So those should be avoided.

Generally, having pools to mine is preferable as it turns a somewhat luck based mining into a steady payout. Therefore I suggest searching pool operators wihch would be willing to maintain a pool from launch on. Ask them which algo is preferable for them, maybe there are pros and cons.

If you look around the forum you will probably find a lot of pool operators.

Also, please note that I am far from an expert on those topics. It is just some experience I got from recent altcoins which I supported.

Another common mistake, while not necessarily serious in nature, is not having a set launch date in the future with all wallets ready. Especially Windows wallets are important. Most Linux systems are able to build the wallets easily, but windows users usually do not have the understanding or the necessary tools.

So in conclusion:
Ask the community (probably the pool operators) to vote/decide on algorithms.
Get your features set in stone inclusing a roadmap. Then announce the launch ahead of time (maybe 1 week in advance).
At launch time, have all the required things ready: Wallets, pools etc.

This will help people to pick it up from the start. Even if some drop it quickly afterwards, getting started is probably the hard thing right with progressing in the long term.

Ready for pool creation

More details added, as well as coin start!  Decided to use X11 on this coin.  Start will be on 8/26/2017, the time will be decided later this week. 

Pool will be up immediately at start. 

Also note that there is a 90% initial reduce reward for the first 5000 blocks to create a super fair start! 

Will keep updating more info as we get closer.  Also need a ANN designer that I will give 25000 FPSc to design a sexier thread. 

Thanks!

Well, you apparently chose one of those algorithms where you can order ASICs already. Simply typing "x11 asic" into google returns a lot of results and reviews even.
This is pretty much what I have warned you about, smaller miners will get easily overtaken by a few ASICs. As soon as your coin gets a noticable value, people will send their ASICs to mine it and smaller miners will just drop the coin.
This works against the decentralization aspect of blockchains.

Considering the low reward for the first blocks: Absolutely right choice. This may slow development in the first few days, but this gives people enough time to adapt and there is no need to be one of the first to get something out of mining.

So far I really lack a clear idea of how you want to implement those bets.
Is there any automated way of retrieving and analyzing game scores? I know that with Steam you can get some API access and get results. Is there anything similar for other big FPS games?
Doing this by hand is probably hardly worth the effort unless the referees get a compensation. This opens uip another box of problems though.

Maybe you can clarify your approach a bit more?
Are the people betting players themselves or are we just betting on professional matches?

I figured X11 ASIC's would be better then SHA or Scrypt ASIC's and less popular, so I figured we would get the best of both worlds, ASIC's and GPU's. 

Currently I am not sure of a way of automating it.  I will have to look into that.  The ref model is the only way I can see this working.  The Ref's will get compensated (Right now I am thinking of 10% for high FPSc matches, and up to 15% on lower, depending on coin value).  We may have to sweeten the deal a few % with the sites profit, and premine at first until the coin gets value.  But I figure if it pays around $10 / hour for new refs, and up to $20 / hour for experienced refs it will be worth it for them as a part time job.   The dollar amount will be in coins of course.   

I want to only get into betting on personal games, getting into the pro games would get into the legality issue. 

Thanks.

You can farther reduce ASIC miners to baikal miners with quark, or x15

I could.  I will set up a poll to see if the majority of the people waiting for this coin would prefer a new Algo.  This will obviously push back the launch date.  Poll coming up soon. 

So dev, whats the options with algo besides X11? If you will decide that it will be not X11 what algo you'll prefer/skill enough than?

Was originally looking to put in on Skunk, but I think that's over my head.  Could probably work with NeoScrypt, I don't believe an ASIC is out for that.  What does the community want and I will see if I have the skill to make that algo?

Thanks,

As X11 not asic resistent I voted for launch delaying and new algo building, I personally like skunk algo and it would nice to mine it, but think you should make another voting after this one ends with available for using algos that dev team can handle. Of course if vote#1 will prevail.

Sure!  I may need to hire a more skilled coder then myself to do certain algo's in which I would pay them with a part of the Premine.  Depending on the price, the premine may need to go up to justify costs.  But I would want to avoid that as much as possible!  More Premine usually means less coin success in my opinion. 

Update dev?

Looks like the people who voted for a algo change, which I will do.  I am going to change the header as [DELAYED] by popular request. 

Please post the algo's you would like to see and I'll post a poll to see which one everyone wants!

Thanks for update dev. As I already said I vote for skunk algo, if you can handle with of course. So delaying for what time est, can you tell?

use skunk algo it's new and asic resistent

Looks like a nice idea but I don't completely get it. If betting on FPS games really becomes popular, then won't sites offering bets in more popular coins take over in the end anyways? And is there something in the specifications of the coin that makes it particularly usefull for betting on FPS? Thank you

Hello, that may be true.  We are going to start our with our own coin in the beginning, then we will move to start accepting other coins and converting them into FPSc, but they payout will always be in this coin.  The code is not going to be in the coin its self, we are going to clone another coin in order to get this going.  Then down the line we may hire developers to enhance the coin and code in the ability to place the bets through the wallet in addition to the website. 

Thanks!

Currently I would put this out at least 2 weeks.  I need to figure out how to clone SIGT and modify it to this coins specs, then I will need to test the coin to make sure everything is going well. 

I will keep everyone updated with my progress.  If anyone knows a coin guru that can help set this coin up in the SKUNK Algo please refer them to me, and I will pay them with a portion of the premine. 

After watching, I think it will be very interesting. From this it can get a deal.

Thank You!  We hope the project will interest everyone and that there will be a real use for it.  We want to make sure to fine tune with the community to give them the coin that everyone wants!

Will be waiting dev, keep us updated.