Bitcoin Forum

Mining in Crypto Casino
Mining coins in Crypto Casino are 100% earned by Proof Of Risk Protocol and collecting transaction fees for securing the network and processing the transactions. This efficient mining protocol results in low energy mining so mining profits won't be negated by high electricity bills and it's very environmentally friendly unlike Bitcoin and many Bitcoin clones.

Internal decentralized Casino
In Crypto Casino their is House gambling and peer 2 peer gambling. Like any other casino in Crypto Casino the house has the slight upper hand when a player beats the house they keep their profits, however when a player loses to the house these funds go to the house. In turn these funds will be distributed to all miners and some gamblers under proof of risk and dynamic distribution. People gambling against each other in peer 2 peer will not be able to earn coins through proof of risk for the most part because of the chance of game setting and manipulation. People gambling against eachother will win profits like a conventional casino (a small percentage of wins may be taxed to go to the house to discourage fake wins this however is TBD and is not final).

Proof Of Risk
Proof of Risk is a new protocol built from the ground up for Crypto Casino. The mining Distribution relies almost completely on POR and so do house gambling aspects. POR allows the distribution of coins through mining to be more dynamic seeing as how CryptoCasino is non-inflationary in the traditional manner a 51% attack will not be possible and other malicious attempts by big miners are negated.

House Safegaurd
To protect the House from going into debt and not being able to pay out wins Log will be implemented (Lesser Opposition Gain) that makes sure overall the house does not end up in the red and it is able to pay out wins while still paying miners.

Work for CryptoCasino
We will be placing positions for development, marketing etc. soon so keep an eye out.

Note this is just the initial Announcement
This is just the Announcement of CryptoCasino further aspects such as Decentralized Exchange, Live Event Integration and more technical Aspects are yet to be released but will be done in a timely manner. At the moment no Donations or investment are being accepted this phase will be released along with other technical announcements soon, please do not send funds to anyone claiming to be accepting them on CryptoCasino behalf unless otherwise stated in this official post.

Can't wait for the POR-house jokes :-)

haha you win the CryptoCasino award for best worst pun.

On a more serious note I'm hoping the community sees the true inovation in this and adopts it as what it is one of the most innovate things yet in the cryptocurrency world.

Oh I think it's very innovative. Can't wait to see what happens. Best of luck!

So ... no matter how hard you try, you can't win?

Either the game will be fair (with some house edge) and then the casino can end up in red, though with reasonable house edge it can be quite unlikely if there is big enough initial bank.
Or the house can't be broken, but then the game won't be fair, as there will inevitably be some "and now you cannot win" mechanism in place.

Their will be no "you can not win mechanism in place" the house has a reasonable but not insane edge. However the LOG (Lesser Opposition Gain) makes sure the House does not go completely in the red and unable to pay miners and bets by at times disallowing people to make extremely large bets resulting in the house going in red etc. these safegaurds are the same safegaurds used by conventional casinos and it's a way to stay completely decentralized. Think of it like this a bank has 50M in stock so it allows 100 customers a loan of 500k so even if all customers come at once to withdraw their money the bank will be at 0 but not be in the red. The house has 50m in stock we only allow a bet up to a certain price at certain times to ensure we can still pay out. If we did not do this it would be similar to fractional reserves were the bank has 50m gives out loans to 5000 people for 500k each and they can't pay out to everyone if they all come at once. This is a more simple explanation and I tried to explain it in the most understandable way possible if you have any questions please feel free to ask.

looks like this will be the next nxt   :D ;) Proof Of Risk looks interesting

He's saying the maximum bet amount depends upon the house's current bankroll

you're probably right

extremely innovative everyone should see this.

sounds interesting...when will it start?

This is just the initial announcement it says stuff like investment opportunities release date technical details etc. will be released soon.

to the moon?

I thought this was a joke when i saw this in my email:

"A new topic, 'ey45y45y5hy45yh45h45h45h45h45h45h45h4545h45h45h htr76', has been made on a board you are watching.

You can see it at
https://bitcointalk.org/index.php?topic=455780.new#new"

Added to watch list. I hope you don't make us wait forever.

I had to make that the topic for a couple of seconds then changed it because their was a bug and it wasn't letting me post under the actual title. And are you referring to the release date? If so I plan on doing everything in a timely manner and will try to get everything ready as soon as possible. Release Date is still to be announced.

Release date?

Seems like an interesting coin, I'll be looking forward to it. ;)

thanks to all that have shown interest in this I'm also open to any suggestions and questions anyone has so feel free to ask.

to the moon

This looks extremely innovative and very interesting. It sounds like you have a really good concept here, this coin is innovative enough that to ensure its success you really only need to do one thing: don't rush the launch, make sure all the bugs are worked out pre-launch and that the launch is fair and runs smoothly. If you do that then this idea has the potential to meet or even surpass the other recent innovative coins (ie Huntercoin and Vertcoin).
Good Luck!

I was saying to the moon but now I guess it's to the stars  :o

Wait, I don't get it. How do I get the coins so that I can gamble so that I can mine coins? ;)

So, the maximal bet size will be lowered so that all winnings could be paid even in the worst case at all times?
Maybe it could work, if the bank would be big enough ....

Side note: if banks worked like that, we probably wouldn't have Bitcoins around :P

What is innovative in Vertcoin?


Just wondering, how long approximately till the release? Are we talking days, or rather months?

The initial distribution proccess will be announced soon keep an eye out.


That is not entirely how it works Proof Of Risk is a new protocol implemented in the first internal decentralized currency to make sure things are able to run smoothly independently. Your comment isn't entirely true but it catches the gist of it. The technical details of POR (Proof Of Risk) will be released with the source code at a certain stage in our development.


Read my entire example that was entirely my point  :)

The adaptive n factor algo, I think.

All I will say right now is the release won't be in days so don't worry about missing the launch in the short term I'll announce the release date a good time before it happens.

please get the word out everyone.

to the stars

much coin. such innovation

 ;D :o to the moon

get to the station before the train leaves :D

Very Interesting.. Count me in!

Im in...however, if IPO distribution then i will require some more proof before I am in. But for now, I am in!

waiting for today

all aboard :o

Tell us more about Proof of Risk...

How will the casino generate fair randomness?

much coin much innovation such better

I bet Ethereum, skycoin, curecoin, clockwisecoin, Proof if risk, zerocoin will all be released at the same month.

I haven't been on the forums for a while because I've been working on development but I'm here now so if you have any questions please feel free to ask.

So, what is the update of the CryptoCasino?

I put up a poll to see how people wanted me to distribute the coins and I'm still looking for opinions and feedback.

I don't see the poll.

Me neither

edit: Oh i remember now. I voted for NEM style. Since there is only few people reading this thread, good for me.

How will the casino be provably fair and decentralised at the same time?

heres the poll: https://bitcointalk.org/index.php?topic=457186.msg5042365#msg5042365


Their are two main types of casinos in CryptoCasino one is peer 2 peer the other is the house both are internal and decentralized but follow different methods because their differing fundamental operating nature. The house is completely transparent as to how much it pays out, how much it retains for the next roll over and to how much gos to the miners. Gaming in CryptoCasino falls under one protocol but the difference between both casino type and the difference between each type of game played in the casino demands different development to ensure their fair. Once I am done developing and stress testing has been done I feel that is when it will truly be proven that CryptoCasino is fair but a little while before that I will be releasing more technical details and source to ensure people that their is some basis to this protocol.

big things are on the way for CryptoCasino.

Tell me tell me!!  :o

interested

Thank god, I thought this coin was dead!  :D

 A coin can't really be dead if it hasn't even launched yet :) And this is just the pre announcement, big things are in store for CryptoCasino.

if you haven't already please go vote on the poll on how you want to see CryptoCasino coins distributed. Heres the link: https://bitcointalk.org/index.php?topic=457186.msg5042365#msg5042365

For the last 2 weeks I have done some extensive development and straightened out some key features to get them implemented into the protocol. I will also be creating an equal distribution thread shortly that will in part distribute CCC (CryptoCasino Chips).

Great news. Ty for the update.

So when is the estimated time to release this coin?

Thank god, I thought this coin was dead!

Very Interesting.. Count me in!

my share  ;D

Interested

I like the coins, wish I am on the CCC train.

Very Interesting.. Count me in!

Interesting

great job!

Anybody else unable to post in the shares registration thread?

pay attention~~~~~~~~~

somehow i don't get it:

how does this work if the thread is closed?

There should be some warning or notification. I sent my coins before realizing the thread was locked, so couldn't post on there. PM'd the dev so we'll see...

So how is the coin generated?

Curious why the ann thread got locked. Wonder if that means they're launching soon.

Interested in this coin!  Love poker!

Probably just mods and their no-giveaway policy. I'd really like an ETA on this, though...

Interested. Will send if the thread is unlocked

I have been supporting this coin since the begging of the thread. I missed it as well. Wow.

That sucks man. Hopefully you can still contact the OP and get in on the IPO. Have been following this one for ages as well, just got lucky and got in on the first 5 pages of the ann.

Because there is no announcement that it has started already. I am used to wait 1 - 3 weeks every update. They should at least post something at the last page of the thread. I never check the OP.   

What's wrong ? the IPO thread locked.

Not sure, there haven't been any updates yet.

Why is the thread locked?

The admin locked it and banned his account. New update:

https://bitcointalk.org/index.php?topic=508346.new#new

I am CryptoCasino please read this thread if you have questions about the shares distribution: https://bitcointalk.org/index.php?topic=508346.0

Interested, I'm in.

any news for this coin?die?

I think it was just built to create a hype. They should just keep quiet until the wallet is ready before making an announcement.

almost a year later and that's an eternity in crypto time

After heavy revision and utilizing a lot of new technology there will soon be a big announcement for the Crypto Casino project stay tuned!

How soon exactly?