Bitcoin Forum

Economy => Gambling => Topic started by: BitcoinFlipcoin on February 11, 2014, 08:42:09 PM



Title: BitcoinFlipcoin - One bet - 100% Blockchain-based. No sign-in. Payout in 30 min.
Post by: BitcoinFlipcoin on February 11, 2014, 08:42:09 PM
Announcing http://BitcoinFlipcoin.com (http://BitcoinFlipcoin.com).


Dead simple bitcoin betting. 100% blockchain-based. No server secrets, no accounts, no logins. Provably fair coin flip. We find out the outcome at the same time you do.

Send 0.001BTC to 0.1BTC from a compatible wallet to 1FLipCiMj2zKJ1ZpJh53K5FVqyBWGoL2h3

Heads pays 1.962 times your bet (minus a small miner's fee).

Includes a simple python verification script.  (http://www.bitcoinflipcoin.com/verify.html (http://www.bitcoinflipcoin.com/verify.html))

Details for the technically inclined:

The bet's transaction hash is combined with the block hash of the next block after the transaction is accepted (ie - the second confirmation). This byte array is then double-hashed (SHA-256) and if this new number is even, the flip is considered heads and wins. If odd, it's considered tails and loses.

Payout occurs on the 3rd confirmation.

The algorithm in pseudo-code:

Code:
bool isTails = SHA256(SHA256((txHash << 256) + blockHashOfSecondConfirmation)) & 1;
bool isWinner = !isTails;

Try it out with as little as one mBTC!