Bitcoin Forum

Hey guys,
I'm currently developing a new coin flip site. send coins and you'll receive 2x if you win. If you come across a bug, you can report with the txid and i'll investigate. Referrals are in beta so, use it with caution.

please just use dust for now, we will move up to higher amounts when we have confidence all bugs are gone.

Min amount for now is 0.2 and max is 2 for now.

coinsflip.com (http://coinsflip.com)

And what if you lose?

if you loose you loose :-)

If you're loose, you need duct tape or super glue.

Hehe lol :-)

More coins coming soon. Gonna set up a poll or something and get a vote :-)

Girls usually dont like that joke.

How did you find out?  ::)

There was once a time when I was unmarried and the hoes would try talking to me and I didn't control my mouth.  Needless to say they didn't like the commentary.

How do you automate the betting process?

Why would you automate it?

Probably thinks he can make money by betting martingale style :D

Well I guess if you made minimum bets and didn't get bored/stupid.

Maybe add something like pennies or one more established like ftc?

you can use a wallet script

Maybe a login and to allow users to use a bot on the site would work.

It's coming

But it's not that easy to achieve this though

So far, site got a small redesign. BTC betting coming as soon as we make improvements to the script for faster and bigger bets :-)

Yes btc is active and the script has been improved. next I'm not sure of the next coin, will work on the site UI. Then will make a poll for new coins :-)

For people who PM me about the source for the site, we will be providing the site as a re-branding service and/or under a licence fee. Referrals should be active within 48 hrs

Added referrals :-D Now you get a cut for every bet your referral looses :-D

There a limit to how many referred we can have?

you can get one referral link per address you register. so you may have any number of referrals

Cool!

What language are the scripts written in?  I was looking into creating a site like this myself.

It's fully written in php

Interesting approach.

later on i'll set up a poll for you guys to decide what another alt coin to add :-D i'm open to suggestions before i open up a poll

Can you add xpm?

xmp and pennies are current candidates. waiting for more suggestions :-)

Are there really an other stable coins?

Most AltCoins seems to be crushing :-( but i bet if an alt coin gets a use (like betting) it can gain some traction (however little)

Got my referral address :D

http://coinsflip.com/?coin=15&r=LeLrEDrfLpTxgmybz9R1jE8BX8og9u4tSe (http://coinsflip.com/?coin=15&r=LeLrEDrfLpTxgmybz9R1jE8BX8og9u4tSe)

referrals leadersboard is up :-)

using json and the bitcoin/altcoin daemon?

Not quite. we've developed our own methods of communicating with the wallet daemons.

so we're thinking of adding either netcoin, worldcoin or pennies. Any other suggestions or comments?

Wow, nice!

Planning on adding Devcoin anytime soon?

It's one of the oldest alts.

That would be cool.

yes, devcoin is on the list :-)

house edge brought down to ~0.5% !!  ;D

Looks like the house keeps losing :P not that I am complaining.

so keep playing :-)

When do you plan to add other coins you mentioned?

Be very careful of this site.

I just put through 7 transactions, and every one of them came up as LOST

13 seconds ago   0.005 coins   Lost :(   b9a152…
2 minutes ago   0.032 coins   Lost :(   11ca51…
2 minutes ago   0.016 coins   Lost :(   dcd5bd…
3 minutes ago   0.008 coins   Lost :(   343b6c…
4 minutes ago   0.004 coins   Lost :(   a31d32…
5 minutes ago   0.002 coins   Lost :(   372cf4…
7 minutes ago   0.001 coins   Lost :(   431eb4…

Then after returning to the site 5 minutes later...
1 of the transactions has been changed to WON and a payment sent.

8 minutes ago   0.005 coins   Lost :(   b9a152…
9 minutes ago   0.032 coins   Won :)   11ca51…
10 minutes ago   0.016 coins   Lost :(   dcd5bd…
10 minutes ago   0.008 coins   Lost :(   343b6c…
11 minutes ago   0.004 coins   Lost :(   a31d32…
12 minutes ago   0.002 coins   Lost :(   372cf4…
14 minutes ago   0.001 coins   Lost :(   431eb4…

However... as expected... the total amount that was bet = 0.068
the amount that was WON after it was changed from LOST = 0.064
Thus still ensuring that they kept some.

But the Biggest concern with all of the above is... TRUST

The mathematical chance of 7 LOST occurring in a row is VERY VERY low  0.78%
THEN for the LOST to suddenly change to WON after 5 minutes means that the system is inaccurate OR edited after.

The bets are processed in stages, first added to the db (marked as lost as default value) then processed and changed to won if it won. you speak of 7 lost in a row is very low posibility.... yes, low, but there was a time where 8 wins occured in a row. Statistics collected over ~10 values are not qualified for probability fairness qualification. According to our statistics, over the last 100 bets, 48 won and 52  lost. and still yet 100 values isn't quite enough to see the real probability.

and as jrbuddy2 tipped that the house is loosing, i had to contact the admins to ask what's going on. they did confirm that there was a wave of wins in a row. But the scripts were tested with 10000 tx on testnet with house edge 0 to ensure fairness. And according to the coders, it alligned almost perfectly 50-50 as expected. So our script functions as it should. Try going to other betting sites where the show bet logs, i once witnessed well over 10 losses in a row. Probabilities are low, but doesn't mean impossible

http://en.wikipedia.org/wiki/Gambler's_fallacy (http://en.wikipedia.org/wiki/Gambler's_fallacy)

Might want to give that a read.

So by coin flipping do you mean this is a dice game?

yes in a sort of way....

BTW, all bets below minimum are "lost" above maximum are returned.

edit:
Database was cleaned of these "invalid bets"

Add Applecoin :)

minimum btc reduced to 0.002 btc :-D

Added Pennies :-D min bet is 1 and max is 5 for now ;-) Betting will be processed after the sync has completed in an hr or so ;-) currently placed bets will be processed then :-)

Nice setup, when will you be adding namecoin or others?

Soon, as we get more resources :-)

And we have added a new coin :-) NMC. min bet 0.5 max 2 for now ;-)

Nice! Ok you should probably add xpm and I think quarks have gotten popular.

Pennies and nmc are disabled until their wallets are fixed. sorry for any inconvenience that may arise

CacheCoin added to the flip site :-D  http://coinsflip.com/index.php?coin=20 (http://coinsflip.com/index.php?coin=20)
https://bitcointalk.org/index.php?topic=400389 (https://bitcointalk.org/index.php?topic=400389)

Fixed referral creation for CACH