Bitcoin Forum

Economy => Gambling => Topic started by: teppy on September 27, 2012, 10:58:16 PM



Title: Escrow for all these bets?
Post by: teppy on September 27, 2012, 10:58:16 PM
Do we need some sort of escrow service prior to multi-sig being widely adopted? I'd be willing to code such a thing in Dragon's Tale where each proposition would have a designated arbiter, where it would match each side of the bet on a first-come basis (or do it parimutuel style), where the arbiter could set a bet arbitration fee (or charge nothing.)

We have good security - for instance our hot wallet contains a small amount of funds and is on a machine with nothing running except bitcoind and sshd. We use warm (firewalled and encrypted) and cold (offline, encrypted) wallets for larger amounts. And my real name (Andrew Tepper), address (Home: 108 Foxwood Drive, Wexford, PA 15090) and even cell phone (1-412-973-7914) are well known.


Title: Re: Escrow for all these bets?
Post by: MPOE-PR on September 28, 2012, 06:12:12 PM
Teppy, would you mind a. creating a WoT (http://bitcoin-otc.com/viewratings.php) identity and b. making it plain you're the same Teppy (as for instance by publishing the same public key somewhere on your website)? Thank you.


Title: Re: Escrow for all these bets?
Post by: teppy on September 28, 2012, 06:35:11 PM
WoT identity (keyid) is 2834A5B88D322C31, user Teppy, and the same id is at http://www.dragons.tl/wotid.txt


Title: Re: Escrow for all these bets?
Post by: danieldaniel on September 28, 2012, 07:06:12 PM
I'm confused on what you're asking.  Wouldn't escrow be in-game and by the same company as the person the bet would be made with?

Please explain.


Title: Re: Escrow for all these bets?
Post by: teppy on September 28, 2012, 07:19:49 PM
Yes, escrow would be in-game. It would be a fairly simple mechanism: The Arbiter would configure terms for the bet, and people betting would deposit their BTC, and when the Arbiter flipped the switch saying who won, all funds would go to the person he said.

More advanced versions could allow for multiple bets on each side of a proposition, fixed odds other than 1:1, parimutuel rather than matched bets, etc.


Title: Re: Escrow for all these bets?
Post by: MPOE-PR on September 28, 2012, 09:43:29 PM
WoT identity (keyid) is 2834A5B88D322C31, user Teppy, and the same id is at http://www.dragons.tl/wotid.txt


Keep up the good work!